Ultra Clean, Rackspace: After-Hours Trading (Update 1)

Updated from 5:16 p.m. ET to include latest share prices, additional information on Yingli Green Energy and Masco.

NEW YORK ( TheStreet) -- Shares of Ultra Clean Holdings ( UCTT) surged in late trades on Monday after the maker of semiconductor capital equipment topped Wall Street's expectations in its latest quarter and gave a strong outlook.

Hayward, Calif.-based Ultra Clean said it earned $7.8 million, or 34 cents a share, in the three months ended Dec. 31. The latest results included a tax benefit of $6.4 million, or 28 cents a share. Backing out the gain, Ultra Clean would have earned 6 cents a share. Revenue totaled $86.9 million for the quarter, down 17.5% on a sequential basis.

The average estimate of analysts polled by Thomson Reuters was for earnings of 3 cents a share in the December period on revenue of $85.3 million. Analyst estimates typically exclude one-time items. Ultra Clean lifted its fourth-quarter guidance on Jan. 11, forecasting between breakeven results and a profit of 2 cents a share on revenue ranging from $85 million to $86 million.

For the fiscal first quarter ending in March, Ultra Clean sees earnings of 15 to 18 cents a share on revenue of $105 million to $110 million. Wall Street's current consensus view is for a profit of 12 cents a share on revenue of $98.6 million.

"We believe that we are at the bottom of this market decline and expect our operating results to be significantly better in the next quarter," said Clarence Granger, the company's chairman and CEO, in a statement. "I am proud of the success we have had in maintaining a strong balance sheet during this period, as we were able to grow our cash position by $14.1 million for the quarter to an all-time high of $52.0 million."

The stock was last quoted at $9.10, up 17%, on volume of more than 67,000, according to Nasdaq.com. Based on Monday's regular-session close at $7.80, the shares were down more than 40% in the past year, although they've more than doubled since scraping a 52-week low of $3.77 on Oct. 4.

Of the four analysts covering Ultra Clean, three were bullish ahead of the report, rating the shares at either strong buy (2) or buy (1), and the 12-month median price target sits at $8.63. At current levels, the shares trade at a forward price-to-earnings multiple of 12.8X. The company doesn't pay a dividend.

Check out TheStreet's quote page for Ultra Clean Holdings for year-to-date share performance, analyst ratings, earnings estimates and much more.

Rackspace Hosting

Shares of Rackspace Hosting ( RAX) jumped in the extended session as well after the cloud computing software maker and data center services provider delivered a solid beat in its fiscal fourth quarter.

The San Antonio-based company reported earnings of $25 million, or 18 cents a share, in the December-ended three-month period on revenue of $283.3 million. The performance topped the average estimate of analysts polled by Thomson Reuters for a profit of 15 cents a share in the quarter on revenue of $281 million.

The stock was last quoted at $52.56, up 6.8%, on volume of 520,000, according to Nasdaq.com.

Rackspace said its total server count rose to 79,805 at quarter's end, up from 78,717 at the conclusion of its fiscal third quarter in September.

"During the year we accelerated our revenue growth rate for the second year in a row and crossed one billion dollars in annual revenue, while simultaneously improving margins and returns," said Lanham Napier, the company's CEO, in a statement. "In short, we made tremendous progress towards our long-term goal of becoming the service leader in Cloud computing."

Check out TheStreet's quote page for Rackspace for year-to-date share performance, analyst ratings, earnings estimates and much more.

Also seeing some buying interest after the bell was Limelight Networks ( LLNW), which was up 3.8% to $4.15 on volume of more than 75,000.

The company, a smaller rival of Akamai Technologies ( AKAM) in the Web content delivery network services market, posted a non-GAAP loss of $600,000, or a penny a share, on revenue of $46 million. Wall Street was expecting a loss of 2 cents a share on revenue of $46 million.

Limelight noted that it repurchased 5.6 million of its common shares during the fourth quarter for a total of $15.2 million, or an average price per share of $2.78 each.

Limelight also forecast revenue of $43 million to $45 million for its fiscal first quarter vs. the current consensus view of $43.6 million.

Other stocks making moves in late trades included Yingli Green Energy ( YGE), whose stock rose 5.9% to $5.60 on volume of nearly 700,000 after the company signed a $100 million strategic agreement to purchase photovoltaic materials from DuPont ( DD); and Masco ( MAS), whose shares lost 4.8% to $12.60 on volume of more than 80,000 after the Taylor, Mich.-based maker of home improvement and building products reported a fiscal fourth-quarter loss from continuing operations of 9 cents a share on revenue of $1.74 billion, wider than Wall Street's consensus view for a loss of 6 cents a share on revenue of $1.78 billion.

-- Written by Michael Baron in New York.

>To contact the writer of this article, click here: Michael Baron.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

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