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Are Computer and Technology Stocks Lagging Microchip Technology (MCHP) 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 Microchip Technology (MCHP - 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.
Microchip Technology is one of 592 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 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 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. Microchip Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MCHP's full-year earnings has moved 23.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MCHP has returned about 56.6% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 20% on average. This means that Microchip Technology is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Advanced Energy Industries (AEIS - Free Report) . The stock is up 78% year-to-date.
The consensus estimate for Advanced Energy Industries' current year EPS has increased 9.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Microchip Technology belongs to the Semiconductor - Analog and Mixed industry, a group that includes 10 individual stocks and currently sits at #5 in the Zacks Industry Rank. On average, this group has gained an average of 69.7% so far this year, meaning that MCHP is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Advanced Energy Industries belongs to the Semiconductor Equipment - Wafer Fabrication industry. This 2-stock industry is currently ranked #27. The industry has moved +80.2% year to date.
Microchip Technology and Advanced Energy Industries could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
View the Zacks #1 Rank List
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Are Computer and Technology Stocks Lagging Microchip Technology (MCHP) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Microchip Technology (MCHP - 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.
Microchip Technology is one of 592 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 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 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. Microchip Technology is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MCHP's full-year earnings has moved 23.4% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MCHP has returned about 56.6% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 20% on average. This means that Microchip Technology is outperforming the sector as a whole this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Advanced Energy Industries (AEIS - Free Report) . The stock is up 78% year-to-date.
The consensus estimate for Advanced Energy Industries' current year EPS has increased 9.5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Microchip Technology belongs to the Semiconductor - Analog and Mixed industry, a group that includes 10 individual stocks and currently sits at #5 in the Zacks Industry Rank. On average, this group has gained an average of 69.7% so far this year, meaning that MCHP is slightly underperforming its industry in terms of year-to-date returns.
On the other hand, Advanced Energy Industries belongs to the Semiconductor Equipment - Wafer Fabrication industry. This 2-stock industry is currently ranked #27. The industry has moved +80.2% year to date.
Microchip Technology and Advanced Energy Industries could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.