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. Is SMART Global Holdings (SGH - Free Report) one of those stocks right now? 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.
SMART Global Holdings 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 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. SGH is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SGH's full-year earnings has moved 24.62% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SGH has gained about 39.91% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 4.99% on average. This means that SMART Global Holdings is performing better than its sector in terms of year-to-date returns.
Breaking things down more, SGH is a member of the Electronics - Semiconductors industry, which includes 35 individual companies and currently sits at #167 in the Zacks Industry Rank. On average, this group has lost an average of 3.23% so far this year, meaning that SGH is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SGH. The stock will be looking to continue its solid performance.