The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Advantest (ATEYY - 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 ATEYY and the rest of the Computer and Technology group's stocks.
Advantest 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 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 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. ATEYY is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ATEYY's full-year earnings has moved 3.83% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, ATEYY has returned 24.97% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 10.16% on average. This means that Advantest is performing better than its sector in terms of year-to-date returns.
Looking more specifically, ATEYY belongs to the Electronics - Measuring Instruments industry, a group that includes 10 individual stocks and currently sits at #14 in the Zacks Industry Rank. On average, this group has gained an average of 32.94% so far this year, meaning that ATEYY is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ATEYY as it looks to continue its solid performance.