Investors focused on the Computer and Technology space have likely heard of Seagate Technology (STX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of STX and the rest of the Computer and Technology group's stocks.
Seagate Technology is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. STX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for STX's full-year earnings has moved 9.71% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, STX has moved about 41.44% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 9.08%. This means that Seagate Technology is performing better than its sector in terms of year-to-date returns.
To break things down more, STX belongs to the Computer- Storage Devices industry, a group that includes 9 individual companies and currently sits at #9 in the Zacks Industry Rank. This group has gained an average of 21.62% so far this year, so STX is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on STX as it attempts to continue its solid performance.