For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Synaptics (SYNA - Free Report) one of those stocks right now? 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.
Synaptics is one of 631 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 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 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. SYNA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for SYNA's full-year earnings has moved 86.70% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, SYNA has moved about 3.69% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 0.99%. As we can see, Synaptics is performing better than its sector in the calendar year.
Looking more specifically, SYNA belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #63 in the Zacks Industry Rank. Stocks in this group have gained about 0.98% so far this year, so SYNA is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SYNA as it attempts to continue its solid performance.