inTest (INTT) Moves 9.2% Higher: Will This Strength Last?

inTest Corporation INTT shares soared 9.2% in the last trading session to close at $16.8. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 8% gain over the past four weeks.

inTest benefits from strong backlog, diversified business, growth in non-semiconductor end markets, and an expanding portfolio.

This company is expected to post quarterly earnings of $0.08 per share in its upcoming report, which represents a year-over-year change of +172.7%. Revenues are expected to be $31.8 million, up 19.4% from the year-ago quarter.

While earnings and revenue growth expectations are important in evaluating the potential strength in a stock, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements.

For inTest, the consensus EPS estimate for the quarter has been revised 125% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on INTT going forward to see if this recent jump can turn into more strength down the road.

The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

inTest is a member of the Zacks Electronics - Measuring Instruments industry. One other stock in the same industry, Camtek CAMT, finished the last trading session 0.6% higher at $180.63. CAMT has returned 7.7% over the past month.

For Camtek, the consensus EPS estimate for the upcoming report has changed +0.6% over the past month to $0.69. This represents a change of -12.7% from what the company reported a year ago. Camtek currently has a Zacks Rank of #3 (Hold).

#1 Semiconductor Stock to Buy (Not NVDA)

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This article originally published on Zacks Investment Research (zacks.com).

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