Needham & Company Maintains a 'Buy' on Ultra Clean (UCTT); Weak Guidance on Semi Pull-Back, but Non-Semi Continues to Grow
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Price: $84.93 -8.59%
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
Rating Summary:
9 Buy, 2 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 13 | Down: 14 | New: 11
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Needham & Company maintains a 'Buy' on Ultra Clean (NASDAQ: UCTT) price target lowered from $14 to $11.
Needham analyst says, "UCTT reported better than expected 2Q11 results. While 3Q11 guidance is substantially below Street’s model, we believe it was largely expected by the buy-side, based on guidance provided by peers and customers. We believe the uncertainty surrounding the duration of this pause in semi equipment will continue to limit the stock in the near-term. However, based on our belief that orders in semicap should improve by 4Q11 coupled with continued growth of the non-semi business, we expect the stock to recover beyond this quarter...We lower 2011 EPS to $0.89 and 2012 to $1.00."
For more ratings news on Ultra Clean click here and for the rating history of Ultra Clean click here.
Shares of Ultra Clean closed at $8.07 yesterday.
Needham analyst says, "UCTT reported better than expected 2Q11 results. While 3Q11 guidance is substantially below Street’s model, we believe it was largely expected by the buy-side, based on guidance provided by peers and customers. We believe the uncertainty surrounding the duration of this pause in semi equipment will continue to limit the stock in the near-term. However, based on our belief that orders in semicap should improve by 4Q11 coupled with continued growth of the non-semi business, we expect the stock to recover beyond this quarter...We lower 2011 EPS to $0.89 and 2012 to $1.00."
For more ratings news on Ultra Clean click here and for the rating history of Ultra Clean click here.
Shares of Ultra Clean closed at $8.07 yesterday.
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