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Are Computer and Technology Stocks Lagging Allegro MicroSystems (ALGM) This Year?
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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. Has Allegro MicroSystems, Inc. (ALGM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Allegro MicroSystems, Inc. is a member of the Computer and Technology sector. This group includes 655 individual stocks and currently holds a Zacks Sector Rank of #5. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGM's full-year earnings has moved 12% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALGM has moved about 4.1% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 34.3% on average. As we can see, Allegro MicroSystems, Inc. is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Amer Movil (AMX - Free Report) . The stock is up 7% year-to-date.
Over the past three months, Amer Movil's consensus EPS estimate for the current year has increased 7.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegro MicroSystems, Inc. belongs to the Electronics - Semiconductors industry, a group that includes 41 individual stocks and currently sits at #154 in the Zacks Industry Rank. This group has lost an average of 25.7% so far this year, so ALGM is performing better in this area.
On the other hand, Amer Movil belongs to the Wireless Non-US industry. This 14-stock industry is currently ranked #84. The industry has moved -10.6% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Allegro MicroSystems, Inc. and Amer Movil. These stocks will be looking to continue their solid performance.
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Are Computer and Technology Stocks Lagging Allegro MicroSystems (ALGM) 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. Has Allegro MicroSystems, Inc. (ALGM - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Allegro MicroSystems, Inc. is a member of the Computer and Technology sector. This group includes 655 individual stocks and currently holds a Zacks Sector Rank of #5. 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 is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Allegro MicroSystems, Inc. is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ALGM's full-year earnings has moved 12% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALGM has moved about 4.1% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have lost about 34.3% on average. As we can see, Allegro MicroSystems, Inc. is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Amer Movil (AMX - Free Report) . The stock is up 7% year-to-date.
Over the past three months, Amer Movil's consensus EPS estimate for the current year has increased 7.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Allegro MicroSystems, Inc. belongs to the Electronics - Semiconductors industry, a group that includes 41 individual stocks and currently sits at #154 in the Zacks Industry Rank. This group has lost an average of 25.7% so far this year, so ALGM is performing better in this area.
On the other hand, Amer Movil belongs to the Wireless Non-US industry. This 14-stock industry is currently ranked #84. The industry has moved -10.6% year to date.
Investors with an interest in Computer and Technology stocks should continue to track Allegro MicroSystems, Inc. and Amer Movil. These stocks will be looking to continue their solid performance.