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Is ON Semiconductor (ON) Outperforming Other Computer and Technology Stocks This Year?
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is ON Semiconductor (ON - Free Report) one of those stocks right now? 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.
ON Semiconductor is one of 626 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ON is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ON's full-year earnings has moved 19.51% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ON has gained about 9.96% so far this year. At the same time, Computer and Technology stocks have lost an average of 0.76%. As we can see, ON Semiconductor is performing better than its sector in the calendar year.
Breaking things down more, ON is a member of the Semiconductor - Analog and Mixed industry, which includes 12 individual companies and currently sits at #52 in the Zacks Industry Rank. On average, this group has lost an average of 0.61% so far this year, meaning that ON is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ON as it looks to continue its solid performance.
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Is ON Semiconductor (ON) Outperforming 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. Is ON Semiconductor (ON - Free Report) one of those stocks right now? 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.
ON Semiconductor is one of 626 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. ON is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ON's full-year earnings has moved 19.51% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ON has gained about 9.96% so far this year. At the same time, Computer and Technology stocks have lost an average of 0.76%. As we can see, ON Semiconductor is performing better than its sector in the calendar year.
Breaking things down more, ON is a member of the Semiconductor - Analog and Mixed industry, which includes 12 individual companies and currently sits at #52 in the Zacks Industry Rank. On average, this group has lost an average of 0.61% so far this year, meaning that ON is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ON as it looks to continue its solid performance.