Growth focused investors may want to consider the following tech stocks, as they have grown their quarterly revenue and net income substantially on a year-over-year basis.
Ultra Clean Holdings Inc
The first stock to consider is Ultra Clean Holdings Inc (UCTT, Financial), a Hayward, California-based designer, developer and manufacturer of production tools, modules and subsystems for the semiconductor industries in North America and internationally.
Ultra Clean Holdings Inc saw its quarterly revenue grow by 26.1% year over year to nearly $335 million as of the second quarter of 2020, up from $265.4 million in the prior-year quarter.
Ultra Clean Holdings Inc recorded a net income of $21.3 million for the second quarter, which was a positive shift from the net loss of $200,000 recorded in the same period in 2019.
The stock price traded at $21.82 per share at close on Oct. 2 following a 51% rise over the past year, determining a market capitalization of $881.53 million and a 52-week range of $11.79 to $31.10.
Ultra Clean Holdings Inc does not pay dividends.
GuruFocus assigned a positive score of 5 out of 10 to the financial strength rating and a very good score of 7 out of 10 to the profitability rating of the company.
On Wall Street, the stock has a buy recommendation rating with an average target price of $33.60 per share.
BlackRock Inc. and VANGUARD GROUP INC lead the group of top fund holders of the company, owning 14.77% and 6.72% of shares outstanding, respectively.
Stamps.com
The second stock which tech growth investors may want to consider is Stamps.com Inc (STMP, Financial), an El Segundo, California-based provider of internet-based mailing and shipping services to U.S. and European clients.
Stamps.com Inc saw its quarterly revenue grow by 49% year over year to $206.73 million as of the second quarter of 2020, up from $138.77 million in the same quarter in 2019.
Stamps.com Inc posted a net income of $51.73 million for the second quarter, representing a more than a three-fold increase from $14 million recorded in the same quarter in 2019.
The stock price closed at $254.64 per share on Oct. 2 after soaring 240% over the past year, for a market capitalization of $4.48 billion and a 52-week range of $73.14 to $325.13.
Stamps.com Inc is currently not paying dividends.
GuruFocus assigned an extremely high score of 9 out of 10 to both the company's financial strength rating and its profitability.
On Wall Street, the stock has an overweight recommendation rating with an average target price of $339 per share.
BlackRock Inc. leads the group of top fund holders of the company, owning 14.22% of shares outstanding. It is followed by VANGUARD GROUP INC with 10.35% of shares outstanding and DISCIPLINED GROWTH INVESTORS INC /MN with 5.84% of shares outstanding.
Axcelis Technologies Inc
The third company which tech growth investors may want to consider is Axcelis Technologies Inc (ACLS, Financial), a Beverly, Massachusetts-based global manufacturer and supplier of processing equipment used in the production of integrated electronic circuits.
The company saw total revenues coming in at nearly $123 million for the second quarter of 2020, which was a 65.5% year over year increase from $74.31 million posted for the same quarter in 2019.
The net income for the second quarter advanced dramatically on a year over year basis as it reached $13.3 million this year compared to $556,000 in 2019.
The stock price was trading at $22.25 per share at close on Oct. 2 as a result of a 28.8% increase over the past year, determining a market capitalization of $744.60 million and a 52-week range of $12.99 to $31.50.
Axcelis Technologies Inc does not pay dividends.
GuruFocus assigned a high rating of 8 out of 10 for the company's financial strength and a positive rating of 5 out of 10 for the profitability.
On Wall Street, the stock has a buy recommendation rating with an average target price of $33 per share.
Among the top fund holders of the company, BlackRock Inc. dominates with 14.8% of shares outstanding. It is followed by PRIMECAP Management with 8.11% of shares outstanding and VANGUARD GROUP INC with 6.79% of shares outstanding.
Disclosure: I have no positions in any securities mentioned.
Read more here:
- 3 Fast-Growing Revenue Stocks
- 3 High-Yield Stocks for the Dividend Investor​
- A Trio of Mid-Cap Stock With Low Price-Book Ratios
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