Why Are Ultra Clean (UCTT) Shares Trading Lower Today - Ultra Clean Hldgs (NASDAQ:UCTT)

Ultra Clean Holdings, Inc UCTT revised its fourth-quarter 2022 revenue guidance.
Ultra Clean now expects Q4 revenue of $560 million - $570 million, down from the prior guidance of $600 million - $650 million.
The downward revision reflected a weakening industry environment and manufacturing output declines due to the resurgence of COVID in UCT's China facility.
Ultra Clean responded to changing business conditions by initiating a series of cost-improvement initiatives to reduce operating expenses while balancing investments to ensure long-term growth.
Price Action: UCTT shares traded lower by 3.28% at $34.53 on the last check Monday.