Investors focused on the Computer and Technology space have likely heard of Diodes (DIOD - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? 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.
Diodes is one of 638 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in 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 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 #2 (Buy).
The Zacks Consensus Estimate for DIOD's full-year earnings has moved 1.79% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that DIOD has returned about 19.65% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 17.12%. As we can see, Diodes is performing better than its sector in the calendar year.
Breaking things down more, DIOD is a member of the Electronics - Semiconductors industry, which includes 37 individual companies and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have gained about 14.42% so far this year, so DIOD is performing better this group 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.