The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Mellanox Technologies 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? 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.
Mellanox Technologies is one of 594 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MLNX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 0.32% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MLNX has moved about 9.09% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 3.94%. This means that Mellanox Technologies is outperforming the sector as a whole this year.
Breaking things down more, MLNX is a member of the Electronics - Semiconductors industry, which includes 36 individual companies and currently sits at #82 in the Zacks Industry Rank. This group has lost an average of 2.21% so far this year, so MLNX is performing better in this area.
MLNX 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.
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Is Mellanox Technologies (MLNX) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Mellanox Technologies 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? 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.
Mellanox Technologies is one of 594 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. MLNX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 0.32% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MLNX has moved about 9.09% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 3.94%. This means that Mellanox Technologies is outperforming the sector as a whole this year.
Breaking things down more, MLNX is a member of the Electronics - Semiconductors industry, which includes 36 individual companies and currently sits at #82 in the Zacks Industry Rank. This group has lost an average of 2.21% so far this year, so MLNX is performing better in this area.
MLNX 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.