Ultra Clean (NASDAQ:UCTT) posted its quarterly earnings results on Tuesday. The semiconductor company reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30, Briefing.com reports. The firm had revenue of $234.08 million for the quarter, compared to the consensus estimate of $224.06 million. Ultra Clean had a net margin of 7.68% and a return on equity of 24.73%. The business’s revenue was down 3.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.62 earnings per share. Ultra Clean updated its Q4 2018 guidance to $0.22-0.32 EPS and its Q4 guidance to $0.22-0.32 EPS.
Shares of NASDAQ UCTT traded down $1.22 during midday trading on Wednesday, reaching $10.30. 2,262,286 shares of the company traded hands, compared to its average volume of 1,038,610. The stock has a market cap of $448.53 million, a PE ratio of 4.40, a PEG ratio of 0.78 and a beta of 0.76. Ultra Clean has a 12 month low of $9.52 and a 12 month high of $27.20.
Several institutional investors have recently added to or reduced their stakes in the stock. LSV Asset Management raised its holdings in shares of Ultra Clean by 3.0% in the third quarter. LSV Asset Management now owns 265,100 shares of the semiconductor company’s stock valued at $3,327,000 after buying an additional 7,600 shares during the last quarter. Engineers Gate Manager LP bought a new position in shares of Ultra Clean in the third quarter valued at about $1,140,000. Victory Capital Management Inc. raised its holdings in shares of Ultra Clean by 114.2% in the third quarter. Victory Capital Management Inc. now owns 16,426 shares of the semiconductor company’s stock valued at $206,000 after buying an additional 8,756 shares during the last quarter. Frontier Capital Management Co. LLC bought a new position in shares of Ultra Clean in the third quarter valued at about $991,000. Finally, Palouse Capital Management Inc. bought a new position in shares of Ultra Clean in the third quarter valued at about $128,000. 82.88% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Craig Hallum cut their price objective on Ultra Clean from $24.00 to $15.00 and set a “buy” rating for the company in a report on Wednesday. BidaskClub raised Ultra Clean from a “sell” rating to a “hold” rating in a report on Tuesday, July 10th. TheStreet cut Ultra Clean from a “b-” rating to a “c+” rating in a report on Tuesday, October 9th. Standpoint Research raised Ultra Clean from a “hold” rating to a “buy” rating in a report on Tuesday, August 28th. Finally, Zacks Investment Research cut Ultra Clean from a “hold” rating to a “strong sell” rating in a report on Friday, August 3rd. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. Ultra Clean has an average rating of “Hold” and a consensus price target of $23.20.
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About Ultra Clean
Ultra Clean Holdings, Inc designs, develops, prototypes, engineers, manufactures, and tests production tools, modules, and subsystems for the semiconductor and display capital equipment industries primarily in North America, Asia, and Europe. It offers precision robotic systems that are used when accurate controlled motion is required; gas delivery systems, which include one or more gas lines consisting of small diameter internally polished stainless steel tubing products, filters, mass flow controllers, regulators, pressure transducers and valves, component heaters, and an integrated electronic and/or pneumatic control system; and various industrial and automation production equipment products.
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