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Is Harmonic (HLIT) Outperforming Other Computer and Technology Stocks This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Harmonic (HLIT - Free Report) been one of those stocks this year? 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.
Harmonic is one of 658 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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 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. Harmonic is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HLIT's full-year earnings has moved 46.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, HLIT has returned 0.3% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -34.3% on a year-to-date basis. This shows that Harmonic is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Iridium Communications (IRDM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 6%.
In Iridium Communications' case, the consensus EPS estimate for the current year increased 33.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Harmonic belongs to the Communication - Components industry, which includes 15 individual stocks and currently sits at #142 in the Zacks Industry Rank. Stocks in this group have lost about 25.9% so far this year, so HLIT is performing better this group in terms of year-to-date returns.
In contrast, Iridium Communications falls under the Satellite and Communication industry. Currently, this industry has 8 stocks and is ranked #21. Since the beginning of the year, the industry has moved -26%.
Investors with an interest in Computer and Technology stocks should continue to track Harmonic and Iridium Communications. These stocks will be looking to continue their solid performance.
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Is Harmonic (HLIT) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Harmonic (HLIT - Free Report) been one of those stocks this year? 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.
Harmonic is one of 658 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within 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 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. Harmonic is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for HLIT's full-year earnings has moved 46.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, HLIT has returned 0.3% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -34.3% on a year-to-date basis. This shows that Harmonic is outperforming its peers so far this year.
Another stock in the Computer and Technology sector, Iridium Communications (IRDM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 6%.
In Iridium Communications' case, the consensus EPS estimate for the current year increased 33.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Harmonic belongs to the Communication - Components industry, which includes 15 individual stocks and currently sits at #142 in the Zacks Industry Rank. Stocks in this group have lost about 25.9% so far this year, so HLIT is performing better this group in terms of year-to-date returns.
In contrast, Iridium Communications falls under the Satellite and Communication industry. Currently, this industry has 8 stocks and is ranked #21. Since the beginning of the year, the industry has moved -26%.
Investors with an interest in Computer and Technology stocks should continue to track Harmonic and Iridium Communications. These stocks will be looking to continue their solid performance.