The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Cree (CREE - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Cree is one of 641 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. CREE is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CREE's full-year earnings has moved 14.29% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, CREE has gained about 53.10% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 21.38% on a year-to-date basis. This means that Cree is outperforming the sector as a whole this year.
Breaking things down more, CREE is a member of the Semiconductor - Discretes industry, which includes 3 individual companies and currently sits at #25 in the Zacks Industry Rank. On average, this group has gained an average of 37.95% so far this year, meaning that CREE is performing better in terms of year-to-date returns.
CREE will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.