The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Diodes (DIOD - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of DIOD and the rest of the Computer and Technology group's stocks.
Diodes is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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 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. DIOD is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 1.75% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, DIOD has moved about 39.28% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 28.23% on average. This shows that Diodes is outperforming its peers so far this year.
Breaking things down more, DIOD is a member of the Electronics - Semiconductors industry, which includes 37 individual companies and currently sits at #42 in the Zacks Industry Rank. On average, this group has gained an average of 40.07% so far this year, meaning that DIOD is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track DIOD. The stock will be looking to continue its solid performance.