Needham & Company Reiterates a 'Buy' on Ultra Clean (UCTT); Beat & Raise on Strong Semicap Recovery
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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 reiterates a 'Buy' on Ultra Clean (NASDAQ: UCTT) price target raised from $9 to $10.
Analyst, Y. Edwin Mok, says, "UCTT reported 4Q11 results that beat recently raised guidance and provided a robust 1Q12 outlook. Similar to peers, management stated that business in the semi equipment sector is experiencing a strong recovery, partially offset by weakness in several non-semi areas, including MOCVD, FPD and Solar equipment. Additionally, UCTT announced a new win in the scientific instrument sector, which could drive growth in 2013 and beyond. Given the strong near-term trend, we expect revenue growth to extend beyond 1Q12, and therefore we reiterate our rating...We increase our 2012 revenue/EPS estimates to $430MM/$0.66 and 2013 to $470MM/$0.89."
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 $7.80 yesterday.
Analyst, Y. Edwin Mok, says, "UCTT reported 4Q11 results that beat recently raised guidance and provided a robust 1Q12 outlook. Similar to peers, management stated that business in the semi equipment sector is experiencing a strong recovery, partially offset by weakness in several non-semi areas, including MOCVD, FPD and Solar equipment. Additionally, UCTT announced a new win in the scientific instrument sector, which could drive growth in 2013 and beyond. Given the strong near-term trend, we expect revenue growth to extend beyond 1Q12, and therefore we reiterate our rating...We increase our 2012 revenue/EPS estimates to $430MM/$0.66 and 2013 to $470MM/$0.89."
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 $7.80 yesterday.
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