Investors focused on the Computer and Technology space have likely heard of Synaptics (SYNA - 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 SYNA and the rest of the Computer and Technology group's stocks.
Synaptics is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SYNA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SYNA's full-year earnings has moved 86.92% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that SYNA has returned about 8.39% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 6.13% on a year-to-date basis. This means that Synaptics is outperforming the sector as a whole this year.
Looking more specifically, SYNA belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #22 in the Zacks Industry Rank. On average, this group has gained an average of 1.74% so far this year, meaning that SYNA is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SYNA. The stock will be looking to continue its solid performance.