Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Mellanox Technologies 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.
Mellanox Technologies is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 48.72% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MLNX has gained about 27.74% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 3.62% on a year-to-date basis. As we can see, Mellanox Technologies is performing better than its sector in the calendar year.
Breaking things down more, MLNX is a member of the Electronics - Semiconductors industry, which includes 35 individual companies and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have lost 5.46% this year, meaning that MLNX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MLNX as it attempts to continue its solid performance.
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Is Mellanox Technologies (MLNX) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Mellanox Technologies 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.
Mellanox Technologies is one of 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 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. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 48.72% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, MLNX has gained about 27.74% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 3.62% on a year-to-date basis. As we can see, Mellanox Technologies is performing better than its sector in the calendar year.
Breaking things down more, MLNX is a member of the Electronics - Semiconductors industry, which includes 35 individual companies and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have lost 5.46% this year, meaning that MLNX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MLNX as it attempts to continue its solid performance.