Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Diodes (DIOD - Free Report) been one of those stocks this year? 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.
Diodes is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #3 in 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 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. DIOD is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 8.50% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, DIOD has moved about 14.86% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 11.15%. As we can see, Diodes is performing better than its sector in the calendar year.
Looking more specifically, DIOD belongs to the Electronics - Semiconductors industry, a group that includes 33 individual stocks and currently sits at #72 in the Zacks Industry Rank. On average, this group has gained an average of 6.20% so far this year, meaning that DIOD is performing better in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DIOD as it looks to continue its solid performance.