Investors focused on the Computer and Technology space have likely heard of Mellanox Technologies (MLNX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Mellanox Technologies is a member of the Computer and Technology sector. This group includes 627 individual stocks and currently holds a Zacks Sector Rank of #2. 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 7.12% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, MLNX has returned 1.49% so far this year. In comparison, Computer and Technology companies have returned an average of -16.16%. This means that Mellanox Technologies is outperforming the sector as a whole this year.
Looking more specifically, MLNX belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #32 in the Zacks Industry Rank. Stocks in this group have lost about 22.84% so far this year, so MLNX 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 MLNX as it looks to continue its solid performance.