Investors focused on the Computer and Technology space have likely heard of Universal Display (OLED - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of OLED and the rest of the Computer and Technology group's stocks.
Universal Display is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. OLED is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for OLED's full-year earnings has moved 9.83% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that OLED has returned about 80.72% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 20.15% on average. As we can see, Universal Display is performing better than its sector in the calendar year.
Looking more specifically, OLED belongs to the Electronics - Miscellaneous Components industry, a group that includes 32 individual stocks and currently sits at #225 in the Zacks Industry Rank. This group has gained an average of 20.72% so far this year, so OLED is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to OLED as it looks to continue its solid performance.