Investors focused on the Computer and Technology space have likely heard of Cypress Semiconductor (CY - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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 one of 625 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 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. CY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CY's full-year earnings has moved 2.42% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CY has gained about 9.65% so far this year. In comparison, Computer and Technology companies have returned an average of 13.99%. This means that Cypress Semiconductor is outperforming the sector as a whole this year.
Looking more specifically, CY belongs to the Semiconductor - Communications industry, which includes 5 individual stocks and currently sits at #20 in the Zacks Industry Rank. This group has gained an average of 3.08% so far this year, so CY is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CY as it looks to continue its solid performance.