Investors focused on the Computer and Technology space have likely heard of CEVA (CEVA), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
CEVA is a member of the Computer and Technology sector. This group includes 630 individual stocks and currently holds a Zacks Sector Rank of #5. 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CEVA is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CEVA's full-year earnings has moved 111.32% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, CEVA has moved about 5.16% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of -6.14%. This means that CEVA is outperforming the sector as a whole this year.
Breaking things down more, CEVA is a member of the Electronics - Semiconductors industry, which includes 37 individual companies and currently sits at #27 in the Zacks Industry Rank. Stocks in this group have lost about 12.82% so far this year, so CEVA is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to CEVA as it looks to continue its solid performance.