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. Has Mellanox Technologies been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Mellanox Technologies is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 29.35% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MLNX has returned about 32.15% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 8.62% on a year-to-date basis. This means that Mellanox Technologies is outperforming the sector as a whole this year.
Looking more specifically, MLNX belongs to the Electronics - Semiconductors industry, a group that includes 35 individual stocks and currently sits at #182 in the Zacks Industry Rank. On average, stocks in this group have gained 3.18% this year, meaning that MLNX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MLNX as it attempts to continue its solid performance.
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Is Mellanox Technologies (MLNX) 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. Has Mellanox Technologies been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Mellanox Technologies is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 29.35% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that MLNX has returned about 32.15% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 8.62% on a year-to-date basis. This means that Mellanox Technologies is outperforming the sector as a whole this year.
Looking more specifically, MLNX belongs to the Electronics - Semiconductors industry, a group that includes 35 individual stocks and currently sits at #182 in the Zacks Industry Rank. On average, stocks in this group have gained 3.18% this year, meaning that MLNX is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MLNX as it attempts to continue its solid performance.