Zacks: Brokerages Expect Ultra Clean Holdings, Inc. (UCTT) Will Post Quarterly Sales of $240.90 Million
Analysts expect Ultra Clean Holdings, Inc. (NASDAQ:UCTT) to announce sales of $240.90 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Ultra Clean Holdings’ earnings. The highest sales estimate is $241.00 million and the lowest is $240.80 million. Ultra Clean Holdings posted sales of $146.15 million during the same quarter last year, which would indicate a positive year over year growth rate of 64.8%. The firm is scheduled to issue its next earnings results on Wednesday, October 25th.
On average, analysts expect that Ultra Clean Holdings will report full year sales of $240.90 million for the current financial year, with estimates ranging from $867.00 million to $903.50 million. For the next year, analysts expect that the company will report sales of $957.85 million per share, with estimates ranging from $942.00 million to $973.70 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for Ultra Clean Holdings.
Ultra Clean Holdings (NASDAQ:UCTT) last issued its earnings results on Thursday, July 27th. The semiconductor company reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.51 by $0.11. Ultra Clean Holdings had a net margin of 6.25% and a return on equity of 24.16%. The company had revenue of $228.26 million during the quarter, compared to analysts’ expectations of $213.92 million. During the same period last year, the company posted $0.10 earnings per share. The firm’s quarterly revenue was up 75.8% compared to the same quarter last year.
A number of brokerages recently weighed in on UCTT. Cowen and Company began coverage on shares of Ultra Clean Holdings in a report on Thursday, June 15th. They set a “market perform” rating and a $26.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Ultra Clean Holdings from $18.00 to $20.00 and gave the stock a “hold” rating in a report on Monday, July 10th. BidaskClub downgraded shares of Ultra Clean Holdings from a “buy” rating to a “hold” rating in a report on Wednesday, August 2nd. Dougherty & Co boosted their target price on shares of Ultra Clean Holdings from $29.50 to $32.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine upgraded shares of Ultra Clean Holdings from a “buy” rating to a “strong-buy” rating in a report on Friday, June 16th. Four analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $27.83.
In other Ultra Clean Holdings news, SVP David Speirs sold 19,029 shares of Ultra Clean Holdings stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $24.04, for a total transaction of $457,457.16. Following the completion of the transaction, the senior vice president now directly owns 100,879 shares of the company’s stock, valued at $2,425,131.16. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Ronald D’ercole sold 1,457 shares of Ultra Clean Holdings stock in a transaction on Friday, September 29th. The stock was sold at an average price of $30.47, for a total transaction of $44,394.79. Following the transaction, the senior vice president now directly owns 69,233 shares of the company’s stock, valued at $2,109,529.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,119 shares of company stock valued at $1,203,079. Company insiders own 2.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in UCTT. Legal & General Group Plc boosted its position in Ultra Clean Holdings by 4.2% during the second quarter. Legal & General Group Plc now owns 7,824 shares of the semiconductor company’s stock worth $146,000 after purchasing an additional 314 shares during the period. Pacad Investment Ltd. bought a new position in Ultra Clean Holdings during the second quarter worth $173,000. Nordea Investment Management AB bought a new position in Ultra Clean Holdings during the first quarter worth $204,000. State Board of Administration of Florida Retirement System boosted its position in Ultra Clean Holdings by 0.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 12,618 shares of the semiconductor company’s stock worth $213,000 after purchasing an additional 69 shares during the period. Finally, Principal Financial Group Inc. bought a new position in Ultra Clean Holdings during the second quarter worth $228,000. 77.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Ultra Clean Holdings (NASDAQ:UCTT) traded up 0.93% on Wednesday, reaching $31.45. 457,936 shares of the company’s stock were exchanged. The company has a market capitalization of $1.06 billion, a P/E ratio of 22.63 and a beta of 1.30. The stock’s 50-day moving average price is $26.38 and its 200-day moving average price is $22.12. Ultra Clean Holdings has a 1-year low of $7.06 and a 1-year high of $32.32.
About Ultra Clean Holdings
Ultra Clean Holdings, Inc is engaged in the design, engineering and manufacture of production tools, modules and subsystems the semiconductor capital equipment industry. The Company’s products include precision robotic solutions; gas delivery systems; a range of industrial and automation production equipment products; subsystems that includes wafer cleaning sub-systems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules.
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