Back to top

Image: Bigstock

Is Mellanox Technologies (MLNX) Outperforming Other Computer and Technology Stocks This Year?

Read MoreHide Full Article

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.


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Mellanox Technologies, Ltd. (MLNX) - free report >>

Published in