Investors focused on the Computer and Technology space have likely heard of Mellanox Technologies (MLNX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Mellanox Technologies is one of 627 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MLNX's full-year earnings has moved 17.47% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MLNX has returned about 22.33% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 10.11% on average. This means that Mellanox Technologies is performing better than its sector in terms of year-to-date returns.
Breaking things down more, MLNX is a member of the Electronics - Semiconductors industry, which includes 33 individual companies and currently sits at #89 in the Zacks Industry Rank. Stocks in this group have lost about 5.01% so far this year, so MLNX is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track MLNX. The stock will be looking to continue its solid performance.