Is Ultra Clean Holdings (UCTT) Outperforming Other Computer and Technology Stocks This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Ultra Clean Holdings (UCTT) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Ultra Clean Holdings is a member of the Computer and Technology sector. This group includes 625 individual stocks and currently holds a Zacks Sector Rank of #12. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. UCTT is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for UCTT's full-year earnings has moved 13.12% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, UCTT has gained about 86.85% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 8.30% on average. This means that Ultra Clean Holdings is performing better than its sector in terms of year-to-date returns.
Looking more specifically, UCTT belongs to the Electronics - Manufacturing Machinery industry, a group that includes 11 individual stocks and currently sits at #33 in the Zacks Industry Rank. On average, stocks in this group have gained 31.90% this year, meaning that UCTT is performing better 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.
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