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. Is Analog Devices (ADI) 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.
Analog Devices is a member of our Computer and Technology group, which includes 613 different companies and currently sits at #4 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Analog Devices is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ADI's full-year earnings has moved 7.2% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ADI has moved about 16.8% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 2.3%. This shows that Analog Devices is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Advanced Energy Industries (AEIS), has outperformed the sector so far this year. The stock's year-to-date return is 25.1%.
Over the past three months, Advanced Energy Industries' consensus EPS estimate for the current year has increased 14.1%. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Analog Devices is a member of the Semiconductor - Analog and Mixed industry, which includes 10 individual companies and currently sits at #28 in the Zacks Industry Rank. This group has gained an average of 17.7% so far this year, so ADI is slightly underperforming its industry in this area.
On the other hand, Advanced Energy Industries belongs to the Semiconductor Equipment - Wafer Fabrication industry. This 2-stock industry is currently ranked #3. The industry has moved +34.6% year to date.
Analog Devices and Advanced Energy Industries could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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
Analog Devices, Inc. (ADI): Free Stock Analysis Report Advanced Energy Industries, Inc. (AEIS): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
Zacks Investment Research
