- Ultra Clean Holdings (NASDAQ:UCTT) shares are down 6.8% despite reporting upside Q4 results yesterday that came in above the company's pre-announced financials.
- Revenue was up 29% on the year to $369.6M. EPS topped estimates by 10 cents with $0.81.
- Gross margin was 21.5% and operating margin was 11.9% compared to the 21% and 11.6% in the prior quarter, respectively.
- For Q1, the company widens its guidance due to the continuing macro uncertainties. UCTT expects revenue of $375-405M (consensus: $380.2M) and EPS of $0.80-0.93 (consensus: $0.72).
- Stifel (Buy rating) raises its Ultra Clean price target from $38 to $60, saying the strong quarter "sets up another year of outperformance in 2021."
- Cowen (Outperform) moves its PT from $48 to $57, praising the upside results and outlook and noting that strong wafer fab equipment spending trends should be sustainable into next year, providing a durable tailwind for UCTT.
- Earnings press release.