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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Analog Devices (ADI) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of ADI and the rest of the Computer and Technology group's stocks.
Analog Devices is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #9 in the Zacks Sector Rank. 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 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. ADI is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for ADI's full-year earnings has moved 6.38% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, ADI has gained about 4.98% so far this year. At the same time, Computer and Technology stocks have gained an average of 4.75%. As we can see, Analog Devices is performing better than its sector in the calendar year.
Looking more specifically, ADI belongs to the Semiconductor - Analog and Mixed industry, a group that includes 12 individual stocks and currently sits at #37 in the Zacks Industry Rank. On average, this group has gained an average of 11.65% so far this year, meaning that ADI is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ADI as it attempts to continue its solid performance.