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Is Analog Devices (ADI) Stock Outpacing Its Computer and Technology Peers This Year?
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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Analog Devices (ADI - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Analog Devices is one of 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within 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 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. Analog Devices is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ADI's full-year earnings has moved 9.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ADI has moved about 40.3% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 13.8%. As we can see, Analog Devices is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Ametek (AME - Free Report) . The stock is up 15.6% year-to-date.
For Ametek, the consensus EPS estimate for the current year has increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Analog Devices is a member of the Semiconductor - Analog and Mixed industry, which includes 10 individual companies and currently sits at #15 in the Zacks Industry Rank. On average, this group has gained an average of 42.2% so far this year, meaning that ADI is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Ametek falls under the Electronics - Testing Equipment industry. Currently, this industry has 4 stocks and is ranked #20. Since the beginning of the year, the industry has moved +19.8%.
Analog Devices and Ametek 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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Is Analog Devices (ADI) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Analog Devices (ADI - 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? Let's take a closer look at the stock's year-to-date performance to find out.
Analog Devices is one of 613 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within 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 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. Analog Devices is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for ADI's full-year earnings has moved 9.2% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, ADI has moved about 40.3% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 13.8%. As we can see, Analog Devices is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Ametek (AME - Free Report) . The stock is up 15.6% year-to-date.
For Ametek, the consensus EPS estimate for the current year has increased 1.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Breaking things down more, Analog Devices is a member of the Semiconductor - Analog and Mixed industry, which includes 10 individual companies and currently sits at #15 in the Zacks Industry Rank. On average, this group has gained an average of 42.2% so far this year, meaning that ADI is slightly underperforming its industry in terms of year-to-date returns.
In contrast, Ametek falls under the Electronics - Testing Equipment industry. Currently, this industry has 4 stocks and is ranked #20. Since the beginning of the year, the industry has moved +19.8%.
Analog Devices and Ametek could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.