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 Diodes (DIOD - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Diodes is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #3. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. DIOD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 8.50% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DIOD has returned 31.39% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.86% on average. This shows that Diodes is outperforming its peers so far this year.
Breaking things down more, DIOD is a member of the Electronics - Semiconductors industry, which includes 33 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, stocks in this group have lost 1.27% this year, meaning that DIOD 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 DIOD as it attempts to continue its solid performance.