DA Davidson Equities Analysts Reduce Earnings Estimates for Ultra Clean Holdings, Inc. (NASDAQ:UCTT)

Ultra Clean Holdings, Inc. (NASDAQ:UCTTGet Rating) – Analysts at DA Davidson lowered their FY2022 EPS estimates for Ultra Clean in a note issued to investors on Monday, August 1st. DA Davidson analyst T. Diffely now anticipates that the semiconductor company will earn $3.76 per share for the year, down from their prior estimate of $4.19. The consensus estimate for Ultra Clean’s current full-year earnings is $4.14 per share. DA Davidson also issued estimates for Ultra Clean’s FY2023 earnings at $4.39 EPS.

A number of other research analysts have also recently commented on UCTT. Needham & Company LLC decreased their target price on shares of Ultra Clean from $45.00 to $42.00 and set a “buy” rating on the stock in a research report on Friday, July 29th. Cowen decreased their target price on shares of Ultra Clean from $54.00 to $42.00 in a research report on Monday. Cowen decreased their target price on shares of Ultra Clean from $54.00 to $42.00 in a research report on Monday. Finally, TheStreet cut shares of Ultra Clean from a “b-” rating to a “c+” rating in a research report on Friday, July 29th.

Ultra Clean Trading Up 2.9 %

NASDAQ UCTT opened at $34.72 on Wednesday. The firm’s 50-day moving average is $31.42 and its two-hundred day moving average is $37.68. Ultra Clean has a 12 month low of $26.00 and a 12 month high of $60.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.81 and a quick ratio of 1.78. The stock has a market capitalization of $1.57 billion, a P/E ratio of 19.84 and a beta of 1.96.

Ultra Clean (NASDAQ:UCTTGet Rating) last announced its quarterly earnings data on Thursday, July 28th. The semiconductor company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.11. Ultra Clean had a net margin of 3.42% and a return on equity of 20.20%. The firm had revenue of $608.70 million during the quarter, compared to analyst estimates of $590.84 million. During the same quarter in the prior year, the firm posted $0.92 earnings per share. Ultra Clean’s quarterly revenue was up 18.1% on a year-over-year basis.

Insider Transactions at Ultra Clean

In related news, Director Jacqueline A. Seto sold 1,460 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $34.12, for a total value of $49,815.20. Following the sale, the director now owns 11,809 shares of the company’s stock, valued at $402,923.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, Director Jacqueline A. Seto sold 1,460 shares of the firm’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $34.12, for a total value of $49,815.20. Following the sale, the director now owns 11,809 shares of the company’s stock, valued at $402,923.08. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, General Counsel Paul Yoonku Cho sold 3,536 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $30.41, for a total transaction of $107,529.76. Following the completion of the sale, the general counsel now directly owns 21,006 shares in the company, valued at approximately $638,792.46. The disclosure for this sale can be found here. Corporate insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Ultra Clean

Hedge funds have recently added to or reduced their stakes in the stock. Edmond DE Rothschild Holding S.A. purchased a new position in Ultra Clean in the fourth quarter valued at approximately $40,000. UMB Bank N A MO purchased a new position in Ultra Clean in the fourth quarter valued at approximately $41,000. Covestor Ltd purchased a new position in shares of Ultra Clean during the fourth quarter worth approximately $45,000. CWM LLC grew its position in shares of Ultra Clean by 291.6% during the second quarter. CWM LLC now owns 932 shares of the semiconductor company’s stock worth $28,000 after acquiring an additional 694 shares during the last quarter. Finally, Byrne Asset Management LLC grew its position in shares of Ultra Clean by 299.6% during the first quarter. Byrne Asset Management LLC now owns 1,087 shares of the semiconductor company’s stock worth $46,000 after acquiring an additional 815 shares during the last quarter. 83.46% of the stock is currently owned by hedge funds and other institutional investors.

Ultra Clean Company Profile

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Ultra Clean Holdings, Inc develops and supplies critical subsystems, components and parts, and ultra-high purity cleaning and analytical services for the semiconductor industry in the United States and internationally. The company provides ultra-clean valves, high purity connectors, industrial process connectors and valves, pneumatic actuators, manifolds and safety solutions, hoses, pressure gauges, and gas line and component heaters; chemical delivery modules that deliver gases and reactive chemicals in a liquid or gaseous form from a centralized subsystem to the reaction chamber; and gas delivery systems, such as weldments, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system.

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