Ultra Clean Holdings Inc. (UCTT) experienced a pre-market plunge of 8.55% on Tuesday, extending recent losses for the semiconductor equipment provider.

The decline follows the company's disappointing fourth-quarter and full-year 2025 financial results. Ultra Clean reported Q4 adjusted earnings per share of $0.22, missing analyst estimates and representing a 56.86% year-over-year decline. More significantly, the company reported a full-year 2025 net loss of $181.2 million, which included a substantial $151.1 million pre-tax, noncash goodwill impairment charge. The company's guidance for Q1 2026 also indicated continued challenges, with projected adjusted diluted earnings per share ranging from $0.18 to $0.34.

Despite these negative fundamentals, analysts at Needham and TD Cowen raised their price targets on the stock to $70 from $50 and $35 respectively. However, these upgrades appear insufficient to offset investor concerns about the company's financial performance and outlook.