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Ultra Clean Hits 52-Week High on Raised Q4, Long-Term View
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Shares of Ultra Clean Holdings Inc. (UCTT - Free Report) reached a new 52-week high of $11.92 during its trading session on Jan 11. This apex improved upon the last 52-week high of $11.90 on Jan 10.
Post the release of third-quarter 2016 results on Oct 26, 2016, shares of the company yielded 49.2% return, outperforming the return of 17.3% generated by the Zacks categorized Electronic Manufacturing-Machinery industry.
On Jan 11, Ultra Clean Holdings closed its trading session at $11.92, yielding year-to-date return of roughly 22.9%. The trading volume for the session was 0.55 million shares. Positive earnings estimate revisions for 2017, along with an expected earnings growth rate of 15% for the next five years indicate the stock’s potential for further price appreciation.
Growth Drivers
Ultra Clean Holdings’ financial performance has been impressive in the last two quarters. In the third quarter, the company’s earnings of 17 cents surpassed the Zacks Consensus Estimate by 41.67%. Also, the company anticipates performing well in the quarters ahead.
Recently, Ultra Clean Holdings increased its revenues forecast for fourth-quarter 2016 (results to be reported on Feb 22 after the market closes) to approximately $173 million from the previously provided range of $146−$151 million. The company communicated that a boost in customers’ orders during the quarter were the prime reason behind the revised projection.
In the years ahead, the company anticipates to benefit from growing Wafer Fab Equipment spending, healthy business in deposition & etch end-market, and initiatives taken by original equipment manufacturer to optimize their factory capacity utilization.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Ultra Clean Holdings grew 13.2% to 77 cents per share for 2017. The earnings estimate represents year-over-year growth of 45.3% for 2017.
With a market capitalization of approximately $392 million, Ultra Clean Holdings currently sports a Zacks Rank #1 (Strong Buy). Other favorably ranked stocks in the industry include Axcelis Technologies, Inc. (ACLS - Free Report) , EMCORE Corporation (EMKR - Free Report) and MKS Instruments, Inc. (MKSI - Free Report) . All the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axcelis Technologies, Inc.’s financial performance has been impressive, with an average positive earnings surprise of 191.67% for the last four quarters. Also, earnings estimates for 2017 represent year-over-year growth of 152.81%.
EMCORE Corporation’s financial performance has been impressive in the last quarter, with a positive earnings surprise of 100%. Also, earnings estimates for fiscal 2017 improved over the last 60 days.
MKS Instruments, Inc.’s earnings estimates for 2017 improved over the past 60 days. Also, the company has an average positive earnings surprise of 26.77%.
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Ultra Clean Hits 52-Week High on Raised Q4, Long-Term View
Shares of Ultra Clean Holdings Inc. (UCTT - Free Report) reached a new 52-week high of $11.92 during its trading session on Jan 11. This apex improved upon the last 52-week high of $11.90 on Jan 10.
Post the release of third-quarter 2016 results on Oct 26, 2016, shares of the company yielded 49.2% return, outperforming the return of 17.3% generated by the Zacks categorized Electronic Manufacturing-Machinery industry.
On Jan 11, Ultra Clean Holdings closed its trading session at $11.92, yielding year-to-date return of roughly 22.9%. The trading volume for the session was 0.55 million shares. Positive earnings estimate revisions for 2017, along with an expected earnings growth rate of 15% for the next five years indicate the stock’s potential for further price appreciation.
Growth Drivers
Ultra Clean Holdings’ financial performance has been impressive in the last two quarters. In the third quarter, the company’s earnings of 17 cents surpassed the Zacks Consensus Estimate by 41.67%. Also, the company anticipates performing well in the quarters ahead.
Recently, Ultra Clean Holdings increased its revenues forecast for fourth-quarter 2016 (results to be reported on Feb 22 after the market closes) to approximately $173 million from the previously provided range of $146−$151 million. The company communicated that a boost in customers’ orders during the quarter were the prime reason behind the revised projection.
In the years ahead, the company anticipates to benefit from growing Wafer Fab Equipment spending, healthy business in deposition & etch end-market, and initiatives taken by original equipment manufacturer to optimize their factory capacity utilization.
Estimate Revisions Show Potency
Over the last 60 days, the Zacks Consensus Estimate for Ultra Clean Holdings grew 13.2% to 77 cents per share for 2017. The earnings estimate represents year-over-year growth of 45.3% for 2017.
Ultra Clean Holdings, Inc. Price and Consensus
Ultra Clean Holdings, Inc. Price and Consensus | Ultra Clean Holdings, Inc. Quote
With a market capitalization of approximately $392 million, Ultra Clean Holdings currently sports a Zacks Rank #1 (Strong Buy). Other favorably ranked stocks in the industry include Axcelis Technologies, Inc. (ACLS - Free Report) , EMCORE Corporation (EMKR - Free Report) and MKS Instruments, Inc. (MKSI - Free Report) . All the stocks sport a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Axcelis Technologies, Inc.’s financial performance has been impressive, with an average positive earnings surprise of 191.67% for the last four quarters. Also, earnings estimates for 2017 represent year-over-year growth of 152.81%.
EMCORE Corporation’s financial performance has been impressive in the last quarter, with a positive earnings surprise of 100%. Also, earnings estimates for fiscal 2017 improved over the last 60 days.
MKS Instruments, Inc.’s earnings estimates for 2017 improved over the past 60 days. Also, the company has an average positive earnings surprise of 26.77%.
Zacks’ Best Private Investment Ideas
In addition to the recommendations that are available to the public on our website, how would you like to follow all Zacks' private buys and sells in real time?
Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors. Starting today, for the next month, you can have unrestricted access. Click here for Zacks' private trades >>