Investors focused on the Computer and Technology space have likely heard of Cypress Semiconductor (CY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Cypress Semiconductor is one of 632 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 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 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. CY is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for CY's full-year earnings has moved 12.26% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, CY has moved about 5.38% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 5.08% on a year-to-date basis. This shows that Cypress Semiconductor is outperforming its peers so far this year.
To break things down more, CY belongs to the Semiconductor - Communications industry, a group that includes 5 individual companies and currently sits at #191 in the Zacks Industry Rank. On average, stocks in this group have gained 1.05% this year, meaning that CY is performing better in terms of year-to-date returns.
CY will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.