Ultra Clean Hldgs (NASDAQ:UCTT) Stock, Quote.Headers.trade-ideas

Ultra Clean Hldgs

Ultra Clean Holdings Inc, through its subsidiaries, manufactures and supplies production tools, modules, and subsystems for the semiconductor capital equipment industry. The product includes precision robotic solutions, gas delivery systems, and a variety of industrial and automation production equipment products; subsystems include wafer cleaning subsystems, chemical delivery modules, top-plate assemblies, frame assemblies, and process modules. Its customer base includes firms in the semiconductor capital equipment industry, medical, energy, industrial, flat panel, and research equipment industries. It has two segments Products and Services. Its principal markets are North America, Asia, and Europe.

Ultra Clean Holdings

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Why Saia Shares Are Trading Lower? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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Norfolk Southern Posts Upbeat Earnings, Joins Newell Brands, Charter Communications, 3M And Other Big Stocks Moving Higher On Friday

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Why Ultra Clean Shares Are Trading Higher By 17%; Here Are 20 Stocks Moving Premarket

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Shares of semiconductor stocks are trading lower amid overall market weakness. A drop in the price of NVIDIA may weigh down the sector.

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Shares of semiconductor stocks are trading lower in sympathy with Intel, which reported worse-than-expected Q2 financial results and issued soft guidance.

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Shares of chip stocks are trading lower amid overall market weakness. Recent earnings from large names in the sector may also be weighing on the sector.

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Shares of semiconductor and hardware stocks are trading lower as the sector pulls back following this year's strength. The sector may also be under pressure amid weakness in Amkor and Lattice, which fell on soft guidance.

TD Cowen analyst Krish Sankar maintains Ultra Clean Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) with a Buy and raises the price target from $55 to $60.

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TD Cowen Maintains Buy on Ultra Clean Hldgs, Raises Price Target to $60

Shares of Saia, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAIA#NASDAQ">SAIA</a>) fell sharply during Friday's session after the company reported worse-than-expected <a href="https://www.benzinga.com/quote/SAIA/earnings">second-quarter financial results</a>.
Saia reported quarterly earnings of $3.83 per share which missed the analyst consensus estimate of $4.00 per share. The company reported quarterly sales of $823.24 million which missed the analyst consensus estimate of $826.55 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Saia shares dipped 18.6% to $398.01 on Friday.
Here are some other stocks moving in today&#8217;s mid-day session.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) gained 117.4% to $0.4639 after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.</li>
<li>Windtree Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WINT#NASDAQ">WINT</a>) shares jumped 101.3% to $6.67 after the company filed a request for the withdrawal of its registration statement on a Form S-1.</li>
<li>Regencell Bioscience Holdings Limited (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RGC#NASDAQ">RGC</a>) gained 53% to $13.94.</li>
<li>Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) shares gained 46.2% to $10.83 after the company beat second-quarter earnings estimates.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) shares climbed 43.3% to $8.84. Carbon Revolution said it will supply the carbon fiber wheels available on the just-revealed Chevrolet Corvette ZR1.</li>
<li>Everi Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVRI#NYSE">EVRI</a>) rose 41.1% to $12.93 after it entered an agreement to be acquired by funds managed by Apollo affiliates for $14.25 per share in cash.</li>
<li>Nauticus Robotics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KITT#NASDAQ">KITT</a>) gained 37% to $4.45.</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) jumped 36.6% to $8.66 on better-than-expected second-quarter earnings and raising FY24 outlook.</li>
<li>Sangamo Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SGMO#NASDAQ">SGMO</a>) gained 35% to $0.9043.</li>
<li>CEL-SCI Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVM#NYSE">CVM</a>) rose 28% to $1.55 after the company announced results from a bias analysis conducted for its concluded Phase 3 study of Multikine. Multikine cut the 5-year risk of death by half compared to control in its target population.</li>
<li>AudioEye, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AEYE#NASDAQ">AEYE</a>) rose 25% to $24.52 following second-quarter results.</li>
<li>Pineapple Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PAPL#NYSE">PAPL</a>) gained 24.4% to $1.1760. Pineapple Financial CSO Christa Lillian Mitchell bought a total of 2,000 shares at an average price of $0.88.</li>
<li>Douglas Elliman Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOUG#NYSE">DOUG</a>) climbed 23% to $1.66.</li>
<li>CareMax, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CMAX#NASDAQ">CMAX</a>) rose 19% to $6.71.</li>
<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) rose 17.6% to $65.16.</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) jumped 17% to $368.65 after the company reported better-than-expected second-quarter financial results.</li>
<li>Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) gained 16.5% to $156.70 following mixed second-quarter earnings.</li>
<li>Karooooo Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) gained 16% to $33.40. Karooooo announced termination of secondary public offering of ordinary shares due to market conditions.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) climbed 15% to $118.99 after better-than-expected second-quarter financial results and FY24 EPS outlook raise.</li>
<li>International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) gained 13.4% to $22.86 after the company entered an agreement for its Gaming &amp; Digital business to be acquired by funds managed by affiliates of Apollo.</li>
<li>Altice USA, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATUS#NYSE">ATUS</a>) rose 12.1% to $1.76.</li>
<li>Stardust Power Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SDST#NASDAQ">SDST</a>) rose 11% to $15.06.</li>
<li>Avantor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) surged 11% to $25.32 after the company reported better-than-expected second-quarter earnings results.</li>
<li>Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) gained 10.7% to $246.86 after the company reported better-than-expected second-quarter earnings results.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) shares gained 10.4% to $0.0415 after falling over 17% on Thursday.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) rose 9% to $20.58. Viasat announced new reporting segment structure.</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares gained 8.7% to $914.71 as the company reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) climbed 7.6% to $48.69 following strong second-quarter earnings and increased 2024 guidance.</li>
<li>Centene Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) climbed 7.6% to $72.55 following better-than-expected second-quarter financial results and increased 2024 guidance.</li>
<li>Columbia Banking System, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) rose 7.4% to $25.98 after the company reported better-than-expected quarterly earnings results. Also, multiple firms raised their respective price targets on its stock.</li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) gained 6.8% to $319.30 after the company reported better-than-expected quarterly revenue results.</li>
<li>Ultra Clean Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) shares gained 4.7% to $47.26 following better-than-expected quarterly results.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>NovaBay Pharmaceuticals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBY#NYSE">NBY</a>) shares dipped 59.6% to $0.7830 after the company reported pricing of $3.5 million underwritten public offering.</li>
<li>Tantech Holdings Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TANH#NASDAQ">TANH</a>) fell 46.9% to $0.2603.</li>
<li>Nature&#8217;s Miracle Holding Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMHI#NASDAQ">NMHI</a>) fell 46.4% to $0.2099 after the company announced pricing of $1.2 million public offering.</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) shares declined 40.7% to $63.97 after the company reported worse-than-expected second-quarter revenue results and issued weak FY24 revenue guidance.</li>
<li>Predictive Oncology Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/POAI#NASDAQ">POAI</a>) fell 29.6% to $1.3150. Predictive Oncology announced exercise of warrants for $1.26 million gross proceeds.</li>
<li>ProMIS Neurosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMN#NASDAQ">PMN</a>) declined 29.2% to $1.5006 as the company reported top-line data from its Phase 1a Alzheimer&#8217;s trial and announced up to $122.7 million private placement financing.</li>
<li>PS International Group Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PSIG#NASDAQ">PSIG</a>) dipped 26.1% to $1.53</li>
<li>Grom Social Enterprises, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GROM#NASDAQ">GROM</a>) fell 23.8% to $0.2751.</li>
<li>Ocean Power Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NASDAQ">OPTT</a>) shares declined 23.2% to $0.3188 after reporting fourth-quarter results.</li>
<li>Avinger, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVGR#NASDAQ">AVGR</a>) fell 20.2% to $1.30.</li>
<li>Next Technology Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) declined 20.1% to $1.6299.</li>
<li>Zynex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZYXI#NASDAQ">ZYXI</a>) shares fell 18.9% to $8.27 after the company reported worse-than-expected second-quarter financial results.</li>
<li>2U, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWOU#NASDAQ">TWOU</a>) declined 17.6% to $1.24.</li>
<li>Ur-Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URG#NYSE">URG</a>) shares dipped 13.4% to $1.1250 after the company announced a proposed public offering of common shares.</li>
<li>BJ&#8217;s Restaurants, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BJRI#NASDAQ">BJRI</a>) fell 12.6% to $32.53 following quarterly results.</li>
<li>Booz Allen Hamilton Holding Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BAH#NYSE">BAH</a>) declined 11.8% to $135.36 following a first-quarter earnings miss and soft EPS guidance.</li>
<li>Advent Technologies Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADN#NASDAQ">ADN</a>) shares fell 11.2% to $4.40 after gaining 3% on Thursday.</li>
<li>Tarsus Pharmaceuticals, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TARS#NASDAQ">TARS</a>) fell 9.1% to $25.67.</li>
<li>World Acceptance Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WRLD#NASDAQ">WRLD</a>) dipped 7.8% to $134.62 following weak quarterly sales.</li>
<li>Forward Air Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FWRD#NASDAQ">FWRD</a>) fell 7.4% to $25.61.</li>
<li>Olin Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OLN#NYSE">OLN</a>) shares declined 7.2% to $44.56 following a second-quarter earnings miss.</li>
<li>Carter&#8217;s, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CRI#NYSE">CRI</a>) shares fell 6.6% to $55.87 following weak quarterly sales.</li>
<li>Biogen Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIIB#NASDAQ">BIIB</a>) declined 6.3% to $213.01 after the European Medicines Agency adopted a negative opinion on the Marketing Authorization Approval for lecanemab.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) shares fell 6% to $38.18. Tandem Diabetes Care will release its second quarter results after the closing bell on Thursday, Aug. 1.</li>
<li>L3Harris Technologies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LHX#NYSE">LHX</a>) declined 4.6% to $232.05 following second-quarter results.</li>
</ul>
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</ul>

Why Saia Shares Are Trading Lower? Here Are Other Stocks Moving In Friday's Mid-Day Session

Craig-Hallum analyst Christian Schwab maintains Ultra Clean Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) with a Buy and raises the price target from $52 to $60.

Craig-Hallum Maintains Buy on Ultra Clean Hldgs, Raises Price Target to $60

U.S. stocks were higher, with the Dow Jones index gaining more than 600 points on Friday.
Shares of Norfolk Southern Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NSC#NYSE">NSC</a>) rose sharply during Friday's session after the company reported better-than-expected <a href="https://www.benzinga.com/news/earnings/24/07/39971341/norfolk-southern-stock-surges-on-q2-earnings-the-details">second-quarter earnings results</a>.
Norfolk Southern reported railway operating revenue of $3 billion, up 2% year-over-year. The company delivered adjusted earnings of $3.06 per share, beating analyst estimates of $2.86 per share, according to <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Norfolk Southern shares gained 10.7% to $246.86 on Friday.
Here are some other big stocks recording gains in today&#8217;s session.
<ul>
<li>Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) shares climbed 46.2% to $10.83 after the company beat second-quarter earnings estimates.</li>
<li>Everi Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EVRI#NYSE">EVRI</a>) shares gained 41.1% to $12.93 after it entered an agreement to be acquired by funds managed by Apollo affiliates for $14.25 per share in cash.</li>
<li>Newell Brands Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NWL#NASDAQ">NWL</a>) gained 36.6% to $8.66 on better-than-expected second-quarter earnings and raising FY24 outlook.</li>
<li>Liberty Broadband Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LBRDA#NASDAQ">LBRDA</a>) gained 17.6% to $65.16.</li>
<li>Charter Communications, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CHTR#NASDAQ">CHTR</a>) shares surged 17% to $368.65 after the company reported better-than-expected second-quarter financial results.</li>
<li>Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) climbed 16.5% to $156.70 following mixed second-quarter earnings.</li>
<li>Karooooo Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) rose 16% to $33.40. Karooooo announced termination of secondary public offering of ordinary shares due to market conditions.</li>
<li>3M Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MMM#NYSE">MMM</a>) gained 15% to $118.99 after better-than-expected second-quarter financial results and FY24 EPS outlook raise.</li>
<li>International Game Technology PLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IGT#NYSE">IGT</a>) jumped 13.4% to $22.86 after the company entered an agreement for its Gaming &amp; Digital business to be acquired by funds managed by affiliates of Apollo.</li>
<li>Avantor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AVTR#NYSE">AVTR</a>) gained 11% to $25.32 after the company reported better-than-expected second-quarter earnings results.</li>
<li>Kinsale Capital Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNSL#NYSE">KNSL</a>) surged 9.8% to $414.28 after the company reported better-than-expected second-quarter financial results.</li>
<li>AST SpaceMobile, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ASTS#NASDAQ">ASTS</a>) gained 9.4% to $18.21.</li>
<li>Viasat, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VSAT#NASDAQ">VSAT</a>) gained 9% to $20.58. Viasat announced new reporting segment structure.</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares rose 8.7% to $914.71 as the company reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion.</li>
<li>Fortune Brands Innovations, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FBIN#NYSE">FBIN</a>) gained 8.5% to $78.32 following upbeat earnings.</li>
<li>MicroStrategy Incorporated (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) rose 8.1% to $1,735.99 after Bitcoin rose above $67,000.</li>
<li>Bristol-Myers Squibb Company (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BMY#NYSE">BMY</a>) climbed 7.6% to $48.69 following strong second-quarter earnings and increased 2024 guidance.</li>
<li>Centene Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CNC#NYSE">CNC</a>) rose 7.6% to $72.55 following better-than-expected second-quarter financial results and increased 2024 guidance.</li>
<li>PENN Entertainment, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PENN#NASDAQ">PENN</a>) climbed 7.4% to $19.51.</li>
<li>Columbia Banking System, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/COLB#NASDAQ">COLB</a>) gained 7.4% to $25.98 after the company reported better-than-expected quarterly earnings results. Also, multiple firms raised their respective price targets on its stock.</li>
<li>Stanley Black &amp; Decker, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SWK#NYSE">SWK</a>) surged 6.9% to $95.66. Stanley Black &amp; Decker named Deborah K. Wintner Chief Human Resources Officer, Succeeding John T. Lucas, and increased quarterly dividend from 81 cents to 82 cents per share.</li>
<li>Aon plc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AON#NYSE">AON</a>) climbed 6.8% to $319.30 after the company reported better-than-expected quarterly revenue results.</li>
<li>The Hartford Financial Services Group, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HIG#NYSE">HIG</a>) gained 6.6% to $109.07 following better-than-expected quarterly earnings.</li>
<li>NOV Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOV#NYSE">NOV</a>) gained 6.1% to $19.81 following upbeat quarterly results.</li>
<li>Lamb Weston Holdings, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LW#NYSE">LW</a>) gained 5.4% to $55.88.</li>
<li>Ultra Clean Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) shares rose 4.7% to $47.26 following better-than-expected quarterly results.</li>
</ul>
Now Read This: 
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<li><a href="https://www.benzinga.com/news/24/07/39984491/nvidia-lockheed-martin-and-2-other-stocks-insiders-are-selling">Nvidia, Lockheed Martin And 2 Other Stocks Insiders Are Selling</a></li>
</ul>

Ultra Clean shares are trading higher after the company reported better-than-expected Q3 financial results.

Needham analyst Charles Shi reiterates Ultra Clean Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) with a Buy and maintains $56 price target.

Reiteration

Needham Reiterates Buy on Ultra Clean Hldgs, Maintains $56 Price Target

Shares of Ultra Clean Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) shares surged 17.4% to $53.00 in pre-market trading following better-than-expected <a href="https://www.benzinga.com/quote/UCTT/earnings">quarterly results</a>.
Ultra Clean reported quarterly earnings of 32 cents per share which beat the analyst consensus estimate of 26 cents per share. The company reported quarterly sales of $516.100 million which beat the analyst consensus estimate of $490.064 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Ultra Clean shares jumped 17.4% to $53.00 in pre-market trading.
Here are some other stocks moving in pre-market trading.
<h3 class="wp-block-heading">Gainers</h3>
<ul>
<li>Windtree Therapeutics, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WINT#NASDAQ">WINT</a>) rose 110.3% to $6.94 in pre-market trading. Windtree Therapeutics filed Form RW to withdraw registration statement on Form S-1.</li>
<li>BurgerFi International, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BFI#NASDAQ">BFI</a>) gained 83% to $0.39 in pre-market trading after the company announced it reached a legal settlement agreement with Lion Point Capital. The company agreed to pay $1,350,000 and issue Lion Point 300,000 of preferred stock.</li>
<li>Carbon Revolution Public Limited Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CREV#NASDAQ">CREV</a>) shares climbed 30.6% to $8.06 in pre-market trading. Carbon Revolution said it will supply the carbon fiber wheels available on the just-revealed Chevrolet Corvette ZR1.</li>
<li>Coursera, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/COUR#NYSE">COUR</a>) shares gained 24.7% to $9.24 in pre-market trading after the company beat second-quarter earnings estimates.</li>
<li>Zapata Computing Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZPTA#NASDAQ">ZPTA</a>) gained 24.5% to $0.6720 in pre-market trading.</li>
<li>Selina Hospitality PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SLNA#NASDAQ">SLNA</a>) shares gained 23.7% to $0.0465 in pre-market trading after falling over 17% on Thursday.</li>
<li>Mohawk Industries, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MHK#NYSE">MHK</a>) gained 11.5% to $150.00 in pre-market trading following mixed second-quarter earnings.</li>
<li>Deckers Outdoor Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DECK#NYSE">DECK</a>) shares gained 11.2% to $935.45 in pre-market trading as the company reported better-than-expected results for the first quarter. The company said it still expects net sales to increase approximately 10% year-over-year in fiscal year 2025 to $4.7 billion.</li>
<li>Karooooo Ltd (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/KARO#NASDAQ">KARO</a>) gained 9.4% to $31.50 in pre-market trading. Karooooo announced termination of secondary public offering of ordinary shares due to market conditions.</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>NovaBay Pharmaceuticals, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NBY#NYSE">NBY</a>) shares fell 40.7% to $1.15 in pre-market trading after dipping 10% on Thursday.</li>
<li>DexCom, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DXCM#NASDAQ">DXCM</a>) shares declined 37% to $68.00 in pre-market trading after the company reported worse-than-expected second-quarter revenue results and issued weak FY24 revenue guidance.</li>
<li>Advent Technologies Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ADN#NASDAQ">ADN</a>) shares fell 35.2% to $3.21 in pre-market trading after gaining 3% on Thursday.</li>
<li>Nature&#8217;s Miracle Holding Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NMHI#NASDAQ">NMHI</a>) shares fell 31.2% to $0.2696 in pre-market trading after declining around 9% on Thursday.</li>
<li>Ocean Power Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/OPTT#NASDAQ">OPTT</a>) shares declined 21.7% to $0.3250 in pre-market trading after reporting fourth-quarter results.</li>
<li>Zynex, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ZYXI#NASDAQ">ZYXI</a>) shares fell 21.5% to $8.00 in pre-market trading after the company reported worse-than-expected second-quarter financial results.</li>
<li>Exicure, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/XCUR#NASDAQ">XCUR</a>) fell 16.4% to $0.4181 in pre-market trading after gaining around 25% on Thursday.</li>
<li>Conn&#8217;s, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CONN#NASDAQ">CONN</a>) fell 13.7% to $0.3528 in pre-market trading after surging 17% on Thursday.</li>
<li>Ur-Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URG#NYSE">URG</a>) shares dipped 9.2% to $1.18 in pre-market trading after the company announced a proposed public offering of common shares.</li>
<li>Tandem Diabetes Care, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) shares fell 9% to $36.99 in pre-market trading. Tandem Diabetes Care will release its second quarter results after the closing bell on Thursday, Aug. 1.</li>
</ul>
Now Read This: 
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/07/39978094/s-p-500-nasdaq-settle-lower-as-tech-stocks-continue-to-falter-greed-index-in-fear-zone">S&amp;P 500, Nasdaq Settle Lower As Tech Stocks Continue To Falter: Greed Index In &#8216;Fear&#8217; Zone</a></li>
</ul>

Guidance

UCTT Sees Q3 Revenue $490M-$540M vs $500.48M Est; Sees Q3 Non-GAAP EPS $0.22-$0.42 vs $0.38 Est

Ultra Clean Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) reported quarterly earnings of $0.32 per share which beat the analyst consensus estimate of $0.26 by 23.08 percent. This is a 100 percent increase over earnings of $0.16 per share from the same period last year. The company reported quarterly sales of $516.100 million which beat the analyst consensus estimate of $490.064 million by 5.31 percent. This is a 22.44 percent increase over sales of $421.500 million the same period last year.

Earnings

Earnings Beats

Ultra Clean Hldgs Q2 2024 Adj EPS $0.32 Beats $0.26 Estimate, Sales $516.100M Beat $490.064M Estimate

Shares of semiconductor and hardware stocks are trading lower amid a selloff in the sector. Soft guidance from ASML and concerns over China restrictions have pressured the sector today.

SMCI

Shares of semiconductor, memory and chip-related stocks are trading higher. Softer-than-expected CPI figures have lifted socks on Wednesday while AI optimism continues to boost the sector.

Shares of semiconductor stocks are trading higher. The broader chip sector has gained this year amid AI momentum.

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) kicked off the artificial intelligence and semiconductor booms, bringing along several semiconductor capital equipment companies. 
One analyst pointed to four small semicap companies, Entegris Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENTG#NASDAQ">ENTG</a>), BE Semiconductor Industries NV (AMS: BESI), Veeco Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VECO#NASDAQ">VECO</a>) and Ultra Clean Holdings Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>), as companies that could outperform <a href="https://www.benzinga.com/topic/wall-street">Wall Street expectations</a>.
The Semiconductor Analyst: Needham analyst Charles Shi issued Buy ratings for these company&#8217;s stock:
<ul>
<li>Entegris with a price target of $150.</li>
<li>BE Semiconductor Industries with a price target of 160 British pounds (@$204).</li>
<li>Veeco Instruments with a price target of $46.</li>
<li>Ultra Clean Holdings with a price target of $56.</li>
</ul>

Signal in the Noise: Shi believed it was more likely than not that AI-based valuations for semicap companies could be sustained. The analyst stated multiple expansions rather than earnings revisions were responsible for share price appreciation.
&#8220;Multiple expansion alone is not necessarily a source of concern. Historically in the early part of an upcycle, semicap stocks often appear to be &#8216;expensive,&#8217; but the strong upward revisions to EPS into a strong upcycle would naturally resolve the valuation issue,&#8221; Shi said. &#8220;In this cycle, however, with WFE likely growing at a slower pace than last cycle, we believe the amount of AI-driven multiple expansion in the past 12 months should concern semicap investors.&#8221;
The analyst also pointed to these four companies as long ideas.
ENTG: Entegris has seen downward EPS revisions and its multiple expansions have been outpaced by other semicap players.
&#8220;As all semiconductor segments have gone through a correction, we think EPS upward revision is coming, and the stock will look increasingly cheap,&#8221; Shi said. 
BESI: The analyst saw an opportunity in BE Semiconductor Industries which has similarly been beaten down.
&#8220;&#8230;we think the stock has been punished accordingly, with its P/E multiple expanding in line with large-cap stocks and EPS estimates resetting lower, which sets the stage for upside surprises,&#8221; Shi said. &#8220;Moreover, we think investors should not write off BESI&#8217;s AI story entirely, as the hybrid bonding story at Intel and TSMC remains solid.&#8221;
VECO: The analyst saw reason for optimism in Veeco Instruments amid low expectations for the company.
&#8220;We think the setup, i.e. strong execution and low expectation, is a positive for the stock. Moreover, we think VECO&#8217;s share gains in laser anneal and ion beam deposition on leading-edge foundry/logic and memory are good stories that will be reflected in upward EPS revisions over the next 12 to 18 months,&#8221; Shi said.
UCTT: Ultra Clean Holdings has seen both negative and positive revisions for future earnings. Shi believed the company&#8217;s comparatively low multiple expansion makes it a promising trade. The analyst sees UCTT as a &#8220;catchup&#8221; trade amid its better-perceived execution.
Price Actions at publication Tuesday:
<ul>
<li>ENTG traded at $132.99, up 0.53%</li>
<li>BESI traded at 141.75 pounds (@$181), up 1.50%</li>
<li>VECO traded at $41.37, down 0.39%</li>
<li>UCTT traded at $44.66, down 0.98%</li>
</ul>
Also Read: <a href="https://www.benzinga.com/top-stories/24/05/39011237/exclusive-nvidia-dow-jones-inclusion-a-matter-of-when-will-it-replace-intel">EXCLUSIVE: Nvidia Dow Jones Inclusion &#8216;A Matter Of When&#8217; — Will It Replace Intel?</a>
Photo: Shutterstock

Analyst Color

Small Cap

Tech

Four Small Cap Semiconductor Ideas To Look At During AI Boom

Ultra Clean Holdings Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) today announced that it has appointed Harjinder Bajwa as Chief Operating Officer, effective June 10, 2024. Mr. Bajwa will be based in Singapore.
Mr. Bajwa brings 30 years of global operations expertise, including strategy development and execution, operations improvement and quality control, lean manufacturing and cost management. Most recently, Harjinder was the Chief Operating Officer for Reconext, a leading provider of aftermarket lifecycle services for electronics. Prior, he held various roles with Flex, Ltd. for 26 years. From 2011 to 2021, he was the Senior Vice President, Global Operations of the High Reliability Solutions business unit, where he oversaw more than 40 sites in the Americas, Asia and Europe, and significantly grew the business unit's revenue and operating profits.

Management

Ultra Clean Appoints Harjinder Bajwa COO, Effective June 10, 2024

TD Cowen analyst Krish Sankar maintains Ultra Clean Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) with a Buy and raises the price target from $47 to $55.

TD Cowen Maintains Buy on Ultra Clean Hldgs, Raises Price Target to $55

Needham analyst Charles Shi maintains Ultra Clean Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UCTT#NASDAQ">UCTT</a>) with a Buy and raises the price target from $50 to $56.

Needham Maintains Buy on Ultra Clean Hldgs, Raises Price Target to $56

Craig-Hallum analyst Christian Schwab assigned a Buy rating to the stock today. The company's shares closed last Friday at $46.90. Schwab covers th...

Craig-Hallum Gives a Buy Rating to Ultra Clean Holdings (UCTT)

Ultra Clean Holdings Q2 2024 Earnings Preview

Ultra Clean Holdings Non-GAAP EPS of $0.32 beats by $0.06, revenue of $516.1M beats by $26.05M

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Ultra Clean Hldgs (NASDAQ:<a href="https://investorplace.com/stock-quotes/uctt-stock-quote/">UCTT</a>) just reported results for the second quarter of 2024.<ul><li>Ultra Clean Hldgs reported earnings per share of 32 cents. This was above the analyst estimate for EPS of 26 cents.</li><li>The company reported revenue of $516.10 million.</li><li>This was 5.31% better than the analyst estimate for revenue of $490.06 million.</li></ul><div>InvestorPlace Earnings is a project that leverages data from <a href="https://www.tradesmith.com">TradeSmith</a> to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estimates. These articles are published without human intervention, allowing us to inform our readers of the latest figures as quickly as possible. To report any concerns or inaccuracies, please contact us at <a href="mailto:editor@investorplace.com">editor@investorplace.com</a>.</div><h3>More From InvestorPlace</h3>
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UCTT Stock Earnings: Ultra Clean Hldgs Beats EPS, Beats Revenue for Q2 2024

Ultra Clean Holdings, Inc. (UCTT) Q2 2024 Earnings Call Transcript

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Buy Rating on Ultra Clean Holdings Amid Strong Quarterly Performance and Positive Market Outlook

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Ultra Clean Hldgs

Ultra Clean Hldgs (UCTT) Forecast

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