We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Has Cadence Design Systems (CDNS) Outpaced Other Computer and Technology Stocks This Year?
Read MoreHide Full Article
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cadence Design Systems (CDNS - Free Report) 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Cadence Design Systems is one of 649 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Cadence Design Systems is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDNS' full-year earnings has moved 8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CDNS has gained about 21% so far this year. At the same time, Computer and Technology stocks have gained an average of 13.1%. This shows that Cadence Design Systems is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Analog Devices (ADI - Free Report) . The stock is up 17.5% year-to-date.
Over the past three months, Analog Devices' consensus EPS estimate for the current year has increased 10.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cadence Design Systems belongs to the Computer - Software industry, a group that includes 38 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, stocks in this group have gained 9% this year, meaning that CDNS is performing better in terms of year-to-date returns.
In contrast, Analog Devices falls under the Semiconductor - Analog and Mixed industry. Currently, this industry has 10 stocks and is ranked #90. Since the beginning of the year, the industry has moved +21.5%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and Analog Devices as they attempt to continue their solid performance.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Has Cadence Design Systems (CDNS) Outpaced Other Computer and Technology Stocks This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cadence Design Systems (CDNS - Free Report) 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? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Cadence Design Systems is one of 649 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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. Cadence Design Systems is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CDNS' full-year earnings has moved 8% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CDNS has gained about 21% so far this year. At the same time, Computer and Technology stocks have gained an average of 13.1%. This shows that Cadence Design Systems is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Analog Devices (ADI - Free Report) . The stock is up 17.5% year-to-date.
Over the past three months, Analog Devices' consensus EPS estimate for the current year has increased 10.3%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Cadence Design Systems belongs to the Computer - Software industry, a group that includes 38 individual stocks and currently sits at #101 in the Zacks Industry Rank. On average, stocks in this group have gained 9% this year, meaning that CDNS is performing better in terms of year-to-date returns.
In contrast, Analog Devices falls under the Semiconductor - Analog and Mixed industry. Currently, this industry has 10 stocks and is ranked #90. Since the beginning of the year, the industry has moved +21.5%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Cadence Design Systems and Analog Devices as they attempt to continue their solid performance.