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Has Analog Devices (ADI) Outpaced 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. Has Analog Devices (ADI - Free Report) been one of those stocks this year? 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.
Analog Devices is a member of our Computer and Technology group, which includes 592 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Analog Devices is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADI's full-year earnings has moved 10.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ADI has gained about 54.1% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 15.6% on average. As we can see, Analog Devices is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Allegro MicroSystems, Inc. (ALGM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 91.1%.
Over the past three months, Allegro MicroSystems, Inc.'s consensus EPS estimate for the current year has increased 10.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Analog Devices belongs to the Semiconductor - Analog and Mixed industry, a group that includes 10 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, this group has gained an average of 65.1% so far this year, meaning that ADI is slightly underperforming its industry in terms of year-to-date returns.
Allegro MicroSystems, Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 47-stock industry is ranked #58. The industry has moved +52.7% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Analog Devices and Allegro MicroSystems, Inc. as they could maintain their solid performance.
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Has Analog Devices (ADI) 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. Has Analog Devices (ADI - Free Report) been one of those stocks this year? 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.
Analog Devices is a member of our Computer and Technology group, which includes 592 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Analog Devices is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ADI's full-year earnings has moved 10.7% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ADI has gained about 54.1% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 15.6% on average. As we can see, Analog Devices is performing better than its sector in the calendar year.
Another stock in the Computer and Technology sector, Allegro MicroSystems, Inc. (ALGM - Free Report) , has outperformed the sector so far this year. The stock's year-to-date return is 91.1%.
Over the past three months, Allegro MicroSystems, Inc.'s consensus EPS estimate for the current year has increased 10.9%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Analog Devices belongs to the Semiconductor - Analog and Mixed industry, a group that includes 10 individual companies and currently sits at #6 in the Zacks Industry Rank. On average, this group has gained an average of 65.1% so far this year, meaning that ADI is slightly underperforming its industry in terms of year-to-date returns.
Allegro MicroSystems, Inc., however, belongs to the Electronics - Semiconductors industry. Currently, this 47-stock industry is ranked #58. The industry has moved +52.7% so far this year.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Analog Devices and Allegro MicroSystems, Inc. as they could maintain their solid performance.