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BA   221.39 (+0.13%)
BAC   42.14 (+1.08%)

Zacks: Analysts Anticipate Ultra Clean Holdings, Inc. (NASDAQ:UCTT) Will Post Quarterly Sales of $543.97 Million

Last updated on Wednesday, September 15, 2021 | 2021 MarketBeat

Analysts expect Ultra Clean Holdings, Inc. (NASDAQ:UCTT) to post sales of $543.97 million for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for Ultra Clean's earnings, with estimates ranging from $542.00 million to $545.93 million. Ultra Clean posted sales of $363.28 million in the same quarter last year, which suggests a positive year over year growth rate of 49.7%. The business is expected to issue its next earnings results on Wednesday, October 27th.

On average, analysts expect that Ultra Clean will report full-year sales of $2.03 billion for the current year, with estimates ranging from $2.02 billion to $2.03 billion. For the next fiscal year, analysts forecast that the company will report sales of $2.21 billion, with estimates ranging from $2.20 billion to $2.23 billion. Zacks' sales averages are a mean average based on a survey of research analysts that that provide coverage for Ultra Clean.

Ultra Clean (NASDAQ:UCTT) last issued its quarterly earnings results on Sunday, August 1st. The semiconductor company reported $0.99 EPS for the quarter, topping the consensus estimate of $0.97 by $0.02. Ultra Clean had a net margin of 5.34% and a return on equity of 21.88%. The firm had revenue of $515.20 million during the quarter, compared to analyst estimates of $505.44 million. During the same quarter in the prior year, the business posted $0.92 earnings per share. Ultra Clean's revenue for the quarter was up 23.4% compared to the same quarter last year.

UCTT has been the subject of a number of recent research reports. Zacks Investment Research cut shares of Ultra Clean from a "buy" rating to a "hold" rating in a report on Friday, August 6th. Colliers Securities reissued a "buy" rating on shares of Ultra Clean in a research report on Tuesday, August 3rd. Finally, Needham & Company LLC initiated coverage on shares of Ultra Clean in a report on Tuesday, August 3rd. They issued a "buy" rating and a $66.00 target price for the company. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $64.50.

In other Ultra Clean news, insider William Joe Williams sold 4,949 shares of the firm's stock in a transaction dated Wednesday, July 7th. The stock was sold at an average price of $51.78, for a total transaction of $256,259.22. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David T. Ibnale sold 3,252 shares of Ultra Clean stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $45.54, for a total value of $148,096.08. Following the transaction, the director now directly owns 84,647 shares of the company's stock, valued at $3,854,824.38. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,446 shares of company stock valued at $471,764. 2.30% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of UCTT. Nisa Investment Advisors LLC bought a new stake in Ultra Clean in the second quarter valued at approximately $25,000. Panagora Asset Management Inc. raised its stake in Ultra Clean by 184.0% during the second quarter. Panagora Asset Management Inc. now owns 906 shares of the semiconductor company's stock valued at $49,000 after purchasing an additional 587 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Ultra Clean in the first quarter valued at approximately $60,000. Jacobi Capital Management LLC bought a new position in Ultra Clean in the second quarter worth approximately $88,000. Finally, Captrust Financial Advisors increased its position in shares of Ultra Clean by 1,677.7% during the first quarter. Captrust Financial Advisors now owns 1,831 shares of the semiconductor company's stock worth $106,000 after purchasing an additional 1,728 shares in the last quarter. Institutional investors and hedge funds own 80.19% of the company's stock.

UCTT stock opened at $46.23 on Wednesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 21.70, a price-to-earnings-growth ratio of 1.61 and a beta of 1.97. The company has a current ratio of 2.81, a quick ratio of 1.96 and a debt-to-equity ratio of 0.73. Ultra Clean has a 52 week low of $19.34 and a 52 week high of $65.33. The firm's 50-day moving average is $47.25 and its two-hundred day moving average is $50.90.

About Ultra Clean

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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Earnings History and Estimates for Ultra Clean (NASDAQ:UCTT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]

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