Needham & Company Maintains a 'Hold' on Ultra Clean (UCTT); Waiting For Better Visibility
Tweet Send to a FriendGet Alerts UCTT Hot Sheet
Price: $5.89 +0.17%
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Rating Summary:
4 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 21 | Down: 24 | New: 29
Trade UCTT Now!
Needham & Company maintains a 'Hold' on Ultra Clean (NASDAQ: UCTT).
Analyst, Y. Edwin Mok, said, "UCTT reported mixed 2Q12 results that met its guidance ranges and provided guidance that is probably worse than expectations. We had previously warned that 3Q12 outlook would reflect softness in the semicap sector, but the magnitude of the decline is even greater than our projection. On the other hand, the newly acquired AIT is performing better than UCTT. Longer-term, we continue to like the AIT acquisition and believe UCTT will realize meaningful benefits from this deal. While comments suggest business could recover quickly, we recommend investors wait for better visibility into a cyclical rebound in the semi equipment sector before getting aggressive."
"We cut our non-GAAP EPS estimate for 2012 from $0.68 to $0.59 and 2013 from $0.93 to $0.87. The higher tax rates impacted our 2012 EPS estimate by $0.03 and 2013 by $0.05."
For an analyst ratings summary and ratings history on Ultra Clean click here. For more ratings news on Ultra Clean click here.
Shares of Ultra Clean closed at $6.00 yesterday, with a 52 week range of $3.77-$9.35.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Analyst, Y. Edwin Mok, said, "UCTT reported mixed 2Q12 results that met its guidance ranges and provided guidance that is probably worse than expectations. We had previously warned that 3Q12 outlook would reflect softness in the semicap sector, but the magnitude of the decline is even greater than our projection. On the other hand, the newly acquired AIT is performing better than UCTT. Longer-term, we continue to like the AIT acquisition and believe UCTT will realize meaningful benefits from this deal. While comments suggest business could recover quickly, we recommend investors wait for better visibility into a cyclical rebound in the semi equipment sector before getting aggressive."
"We cut our non-GAAP EPS estimate for 2012 from $0.68 to $0.59 and 2013 from $0.93 to $0.87. The higher tax rates impacted our 2012 EPS estimate by $0.03 and 2013 by $0.05."
For an analyst ratings summary and ratings history on Ultra Clean click here. For more ratings news on Ultra Clean click here.
Shares of Ultra Clean closed at $6.00 yesterday, with a 52 week range of $3.77-$9.35.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- Jefferies Lifts Numbers on Diana Shipping (DSX) Post Q1
- Topeka Capital Starts CEVA Inc. (CEVA) at Buy
- Topeka Capital Upgrades Pacific Sunwear of California (PSUN) to Buy
Create E-mail Alert Related Categories
Analyst Comments, Analyst EPS Change, Analyst EPS ViewRelated Entities
Needham & Company
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
