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Has Ultra Clean Holdings (UCTT) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Ultra Clean Holdings (UCTT - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Ultra Clean Holdings is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. UCTT is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for UCTT's full-year earnings has moved 0.66% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, UCTT has moved about 49.05% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 22.62% on average. This shows that Ultra Clean Holdings is outperforming its peers so far this year.
Looking more specifically, UCTT belongs to the Electronics - Manufacturing Machinery industry, a group that includes 11 individual stocks and currently sits at #67 in the Zacks Industry Rank. Stocks in this group have gained about 21.45% so far this year, so UCTT is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on UCTT as it attempts to continue its solid performance.