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2023-02-25 02:33
Ultra Clean (NASDAQ:UCTT – Get Rating) issued an update on its first quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.12-0.32 for the period, compared to the consensus estimate of $0.49. The company issued revenue guidance of $395-445 million, compared to the consensus revenue estimate of $482.96 million. Ultra Clean also updated its Q1 2023 guidance to $0.12-$0.32 EPS.
Shares of NASDAQ UCTT traded down $0.30 during mid-day trading on Friday, reaching $30.90. 190,389 shares of the company traded hands, compared to its average volume of 307,977. The company's fifty day moving average is $34.26 and its two-hundred day moving average is $31.95. Ultra Clean has a fifty-two week low of $23.32 and a fifty-two week high of $48.26. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.79 and a current ratio of 2.79. The stock has a market cap of $1.41 billion, a PE ratio of 35.86 and a beta of 1.99.
Get Ultra Clean alerts:UCTT has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a buy rating and issued a $39.00 target price on shares of Ultra Clean in a report on Thursday. Cowen dropped their price target on shares of Ultra Clean from $42.00 to $36.00 in a research report on Thursday, October 27th. Cowen dropped their target price on Ultra Clean from $42.00 to $36.00 in a report on Thursday, October 27th. Craig Hallum lowered Ultra Clean from a buy rating to a hold rating and set a $32.00 price target on the stock. in a research note on Tuesday, January 10th. Finally, DA Davidson reiterated a buy rating on shares of Ultra Clean in a research note on Tuesday, January 3rd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, Ultra Clean presently has an average rating of Moderate Buy and an average price target of $36.20.
A number of institutional investors and hedge funds have recently made changes to their positions in the company. Truist Financial Corp acquired a new stake in shares of Ultra Clean during the 4th quarter worth approximately $245,000. Captrust Financial Advisors bought a new position in shares of Ultra Clean in the 4th quarter worth $344,000. Legal & General Group Plc grew its stake in shares of Ultra Clean by 2.3% during the fourth quarter. Legal & General Group Plc now owns 112,603 shares of the semiconductor company's stock worth $3,733,000 after purchasing an additional 2,512 shares during the period. Millennium Management LLC bought a new stake in Ultra Clean in the fourth quarter valued at about $223,000. Finally, Putnam Investments LLC increased its stake in shares of Ultra Clean by 25.2% in the 4th quarter. Putnam Investments LLC now owns 230,009 shares of the semiconductor company's stock valued at $7,625,000 after acquiring an additional 46,319 shares during the last quarter. Institutional investors own 79.20% of the company's stock.
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Ultra Clean Holdings, Inc designs, manufactures and sells its products and services primarily to customers in the semiconductor capital equipment industry. It operates through the following segments: Semiconductor Products & Solutions (SPS) and Semiconductor Services Business (SSB). The SPS segment provides warranty on its products for a period of up to two years and provides for warranty costs at the time of sale based on historical activity.
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