Markets

Can Ultratech (UTEK) Run Higher on Strong Earnings Estimate Revisions?

Ultratech, Inc.UTEK develops, manufactures and markets photolithography equipment that could be an interesting play for investors. That is because, not only does the stock have decent short-term momentum, but it is seeing solid activity on the earnings estimate revision front as well.

These positive earnings estimate revisions suggest that analysts are becoming more optimistic on UTEK's earnings for the coming quarter and year. In fact, consensus estimates have moved sharply higher for both of these time frames over the past four weeks, suggesting that Ultratech could be a solid choice for investors.

Current Quarter Estimates for UTEK

In the past 30 days, 2 estimates have gone higher for Ultratech while none have gone lower in the same time period. The trend has been pretty favorable too, with estimates increasing from 11 cents a share 30 days ago, to 15 cents today, a move of 36.4%.

Current Year Estimates for UTEK

Meanwhile, Ultratech's current year figures are also looking quite promising, with 3 estimates moving higher in the past month, compared to none lower. The consensus estimate trend has also seen a boost for this time frame, increasing from 59 cents per share 30 days ago to 74 cents per share today, an increase of 25.4%.

Ultratech, Inc. Price and Consensus

Ultratech, Inc. Price and Consensus | Ultratech, Inc. Quote

Bottom Line

The stock has also started to move higher lately, adding 16.1% over the past four weeks, suggesting that investors are starting to take note of this impressive story. So investors may definitely want to consider this Zacks Rank #1 (Strong Buy) stock to profit in the near future. You can see the complete list of today's Zacks #1 (Strong Buy) Rank stocks here.

Just Released - Driverless Cars: Your Roadmap to Mega-Profits Today

In this latest Special Report, Zacks' Aggressive Growth Strategist Brian Bolan explores a full-blown technological breakthrough in the making - autonomous cars. He also spotlights 8 stocks with tremendous gain potential to feed off this phenomenon. Click to see the stocks right now >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Ultratech, Inc. (UTEK): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More