Is Axcelis Technologies (ACLS) 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. Axcelis Technologies (ACLS) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Axcelis Technologies is a member of our Computer and Technology group, which includes 603 different companies and currently sits at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. Axcelis Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for ACLS' full-year earnings has moved 31.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, ACLS has returned 39% so far this year. At the same time, Computer and Technology stocks have gained an average of 21.2%. As we can see, Axcelis Technologies is performing better than its sector in the calendar year.

Another Computer and Technology stock, which has outperformed the sector so far this year, is KANZHUN LIMITED Sponsored ADR (BZ). The stock has returned 70.3% year-to-date.

For KANZHUN LIMITED Sponsored ADR, the consensus EPS estimate for the current year has increased 6.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Axcelis Technologies is a member of the Electronics - Manufacturing Machinery industry, which includes 7 individual companies and currently sits at #159 in the Zacks Industry Rank. On average, stocks in this group have lost 4.7% this year, meaning that ACLS is performing better in terms of year-to-date returns.

KANZHUN LIMITED Sponsored ADR, however, belongs to the Internet - Software industry. Currently, this 171-stock industry is ranked #65. The industry has moved +22.3% so far this year.

Axcelis Technologies and KANZHUN LIMITED Sponsored ADR could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.

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

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