Investors interested in IT and technology stocks should always seek out the best performing companies in the group. Is Ultra Clean Holdings (UCTT) one of those actions now? A quick look at how the company has performed since the start of the year relative to the rest of the IT and tech industry should help answer this question.
Ultra Clean Holdings is a member of the computer and technology industry. This group consists of 619 individual stocks and currently holds a Zacks sector rank of # 11. The Zacks Industry Rankings include 16 different groups and is ranked from best to worst in terms of the average Zacks rankings of individual companies within each of those industries.
Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings prospects. This system has a long history of success, and these stocks tend to be on track to beat the market over the next one to three months. UCTT currently sports a Zacks rank of # 2 (Buy).
Over the past three months, Zacks’ consensus estimate for UCTT’s annual earnings has risen 12.34%. This is a sign of improving sentiment among analysts and a positive trend in the earnings outlook.
According to our latest data, UCTT has grown by around 81.12% since the start of the year. Meanwhile, shares of Computer and Technology group gained about 15.81% on average. As can be seen, Ultra Clean Holdings performs better than its industry during the calendar year.
To break things down further, UCTT is a member of the Electronics Industry – Manufacturing Machinery, which comprises 11 individual companies and currently ranks 35th in the Zacks Industry Rankings. On average, stocks in this group have gained 29.02% this year, which means UCTT performs better in terms of cumulative returns.
Investors in the IT and tech sector will want to keep a close eye on UCTT as it tries to continue its strong performance.
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