Ultra Clean Holdings Trading Up 5.5% Following Earnings Beat (UCTT)
Shares of Ultra Clean Holdings (NASDAQ:UCTT) were up 5.5% during trading on Monday after the company announced better than expected quarterly earnings, ARN reports. The stock traded as high as $9.19 and last traded at $9.16, with a volume of 577,076 shares changing hands. The stock had previously closed at $8.68.
The company reported $0.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.03. The company had revenue of $132.70 million for the quarter, compared to the consensus estimate of $130.05 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The company’s revenue for the quarter was up 20.5% on a year-over-year basis.
UCTT has been the subject of a number of recent research reports. Analysts at Zacks upgraded shares of Ultra Clean Holdings from an “underperform” rating to a “neutral” rating in a research note on Tuesday, July 1st. They now have a $9.30 price target on the stock. Separately, analysts at Standpoint Research initiated coverage on shares of Ultra Clean Holdings in a research note on Thursday, May 1st. They set a “buy” rating and a $12.00 price target on the stock. Finally, analysts at Roth Capital downgraded shares of Ultra Clean Holdings from a “buy” rating to a “neutral” rating in a research note on Tuesday, April 29th. They now have a $12.00 price target on the stock. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Ultra Clean Holdings has a consensus rating of “Buy” and a consensus target price of $11.87.
The stock has a 50-day moving average of $8.89 and a 200-day moving average of $10.8. The company has a market cap of $264.5 million and a P/E ratio of 14.30.
Ultra Clean Holdings, Inc is a developer and supplier of critical subsystems, primarily for the semiconductor capital equipment industry.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.