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. Cypress Semiconductor (CY - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of CY and the rest of the Computer and Technology group's stocks.
Cypress Semiconductor 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 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 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. CY is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CY's full-year earnings has moved 2.42% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, CY has gained about 17.72% so far this year. At the same time, Computer and Technology stocks have gained an average of 10.86%. This shows that Cypress Semiconductor is outperforming its peers so far this year.
Looking more specifically, CY belongs to the Semiconductor - Communications industry, a group that includes 5 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 8.69% so far this year, meaning that CY 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 CY as it attempts to continue its solid performance.