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 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 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 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).
Over the past three months, the Zacks Consensus Estimate for SYNA's full-year earnings has moved 61.76% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, SYNA has moved about 8.44% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 3% on a year-to-date basis. This shows that Synaptics is outperforming its peers so far this year.
Looking more specifically, SYNA belongs to the Electronics - Semiconductors industry, a group that includes 37 individual stocks and currently sits at #31 in the Zacks Industry Rank. On average, this group has lost an average of 3.89% 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.