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Is InterDigital (IDCC) Stock Outpacing Its Computer and Technology Peers 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. InterDigital (IDCC - 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.

InterDigital is a member of our Computer and Technology group, which includes 624 different companies and currently sits at #4 in 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. InterDigital is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for IDCC's full-year earnings has moved 14.8% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, IDCC has moved about 113.2% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 48.7% on average. This means that InterDigital is performing better than its sector in terms of year-to-date returns.

nVent Electric (NVT - Free Report) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 49%.

Over the past three months, nVent Electric's consensus EPS estimate for the current year has increased 4.3%. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, InterDigital belongs to the Wireless Equipment industry, which includes 14 individual stocks and currently sits at #62 in the Zacks Industry Rank. Stocks in this group have gained about 10.4% so far this year, so IDCC is performing better this group in terms of year-to-date returns.

In contrast, nVent Electric falls under the Electronics - Miscellaneous Components industry. Currently, this industry has 32 stocks and is ranked #157. Since the beginning of the year, the industry has moved +12%.

InterDigital and nVent Electric could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.


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