Investors focused on the Computer and Technology space have likely heard of ON Semiconductor (ON - 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.
ON Semiconductor is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. ON is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ON's full-year earnings has moved 2.41% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, ON has gained about 6.18% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 5.59% on average. As we can see, ON Semiconductor is performing better than its sector in the calendar year.
Breaking things down more, ON is a member of the Semiconductor - Analog and Mixed industry, which includes 12 individual companies and currently sits at #185 in the Zacks Industry Rank. On average, this group has gained an average of 3.44% so far this year, meaning that ON is performing better in terms of year-to-date returns.
ON 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.