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Ultra Clean Holdings (UCTT) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
·3-min read

Ultra Clean Holdings (UCTT) closed the most recent trading day at $53.71, moving -0.54% from the previous trading session. This change lagged the S&P 500's 0.14% loss on the day. Elsewhere, the Dow lost 0.45%, while the tech-heavy Nasdaq lost 0.02%.

Coming into today, shares of the chipmaking equipment services company had lost 2.93% in the past month. In that same time, the Computer and Technology sector lost 5.82%, while the S&P 500 lost 0.13%.

Wall Street will be looking for positivity from Ultra Clean Holdings as it approaches its next earnings report date. The company is expected to report EPS of $1.19, up 46.91% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $609.25 million, up 64.83% from the year-ago period.

Investors might also notice recent changes to analyst estimates for Ultra Clean Holdings. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

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Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.

The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. Ultra Clean Holdings currently has a Zacks Rank of #3 (Hold).

Investors should also note Ultra Clean Holdings's current valuation metrics, including its Forward P/E ratio of 11.6. This valuation marks a discount compared to its industry's average Forward P/E of 13.9.

Also, we should mention that UCTT has a PEG ratio of 1.45. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. UCTT's industry had an average PEG ratio of 0.9 as of yesterday's close.

The Electronics - Manufacturing Machinery industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 40, putting it in the top 16% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

To follow UCTT in the coming trading sessions, be sure to utilize Zacks.com.


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