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? Let's take a closer look at the stock's year-to-date performance to find out.
Diodes is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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).
Over the past 90 days, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 1.79% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, DIOD has returned 23.53% so far this year. In comparison, Computer and Technology companies have returned an average of 21.93%. This shows that Diodes is outperforming its peers so far this year.
Looking more specifically, DIOD belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #91 in the Zacks Industry Rank. On average, this group has gained an average of 20.11% so far this year, meaning that DIOD 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 DIOD as it attempts to continue its solid performance.