Investors focused on the Computer and Technology space have likely heard of ON Semiconductor (ON - 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.
ON Semiconductor is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. 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. ON is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ON's full-year earnings has moved 3.85% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that ON has returned about 2.67% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 12.81%. As we can see, ON Semiconductor is performing better than its sector in the calendar year.
Breaking things down more, ON is a member of the Semiconductor - Analog and Mixed industry, which includes 12 individual companies and currently sits at #74 in the Zacks Industry Rank. On average, this group has gained an average of 1.31% so far this year, meaning that ON is performing better in terms of year-to-date returns.
ON 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.