IInvestors interested in computing and technology stocks should always look for the best performing group companies. Is Ultra Clean Holdings (UCTT) one of those stocks right now? A quick look at the company’s annual performance versus the rest of the computing and technology industries should help us answer that question.
Ultra Clean Holdings is a member of the computers and technology sector. This group comprises 619 individual stocks and currently holds a Zacks sector rank of # 11. The Zacks Sector Rank is made up of 16 different groups and is listed in order from best to worst in relation to the average Zacks Rank of each company in each of these sectors.
The Zacks Rank puts emphasis on earnings estimates and valuation revisions to find stocks with improved earnings prospects. This system has a long track record and these stocks have a tendency to beat the market over the next one to three months. UCTT currently has a Zacks rank of # 2 (Buy).
Over the past three months, the Zacks consensus estimate for UCTT’s full year earnings has increased by 12.34%. This is a sign of improving analyst sentiment and a positive trend in the earnings outlook.
According to our latest data, the UCTT is up 81.12% since the start of the year. Meanwhile, the shares of the computer and technology group have gained about 15.81% on average. As we can see, Ultra Clean Holdings outperformed its sector for the calendar year.
More specifically, UCTT is a member of the electronics and manufacturing machinery industry, which comprises 11 individual companies and is currently ranked 35th in the Zacks industry. On average, stocks in this group have gained 29.02% this year, meaning UCTT has outperformed year-to-date in terms of returns.
Investors in the computer and technology sector should keep an eye on UCTT as it seeks to continue its solid performance.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.