Investors focused on the Computer and Technology space have likely heard of Acacia Communications (ACIA - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Acacia Communications is one of 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within 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 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. ACIA is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for ACIA's full-year earnings has moved 64.86% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, ACIA has moved about 3.34% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 11.10% on a year-to-date basis. This means that Acacia Communications is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ACIA belongs to the Communication - Components industry, a group that includes 24 individual stocks and currently sits at #64 in the Zacks Industry Rank. This group has gained an average of 6.14% so far this year, so ACIA is slightly underperforming its industry in this area.
ACIA 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.