Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is AXT (AXTI) one of those stocks right now? 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.
AXT is one of 601 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. AXT is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for AXTI's full-year earnings has moved 28.2% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, AXTI has returned 545.6% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.1%. This means that AXT is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is Analog Devices (ADI). The stock is up 29.4% year-to-date.
In Analog Devices' case, the consensus EPS estimate for the current year increased 5.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, AXT is a member of the Electronics - Semiconductors industry, which includes 45 individual companies and currently sits at #91 in the Zacks Industry Rank. On average, stocks in this group have gained 34.7% this year, meaning that AXTI is performing better in terms of year-to-date returns.
On the other hand, Analog Devices belongs to the Semiconductor - Analog and Mixed industry. This 10-stock industry is currently ranked #60. The industry has moved +20.3% year to date.
Investors interested in the Computer and Technology sector may want to keep a close eye on AXT and Analog Devices as they attempt to continue their solid performance.
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AXT Inc (AXTI): Free Stock Analysis Report Analog Devices, Inc. (ADI): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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