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? 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.
Cypress Semiconductor is a member of our Computer and Technology group, which includes 637 different companies and currently sits at #9 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. CY is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for CY's full-year earnings has moved 4.50% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CY has moved about 74.21% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 13.49%. This shows that Cypress Semiconductor is outperforming its peers so far this year.
Looking more specifically, CY belongs to the Semiconductor - Communications industry, which includes 5 individual stocks and currently sits at #97 in the Zacks Industry Rank. On average, this group has gained an average of 53.17% so far this year, meaning that CY is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on CY as it attempts to continue its solid performance.