U.S. markets open in 1 hour 15 minutes
  • S&P Futures

    4,260.00
    +4.00 (+0.09%)
     
  • Dow Futures

    34,190.00
    +108.00 (+0.32%)
     
  • Nasdaq Futures

    14,367.75
    +13.50 (+0.09%)
     
  • Russell 2000 Futures

    2,333.40
    +2.20 (+0.09%)
     
  • Crude Oil

    73.11
    -0.19 (-0.26%)
     
  • Gold

    1,784.80
    +8.10 (+0.46%)
     
  • Silver

    26.25
    +0.20 (+0.75%)
     
  • EUR/USD

    1.1955
    +0.0020 (+0.17%)
     
  • 10-Yr Bond

    1.4870
    0.0000 (0.00%)
     
  • Vix

    16.09
    -0.23 (-1.41%)
     
  • GBP/USD

    1.3906
    -0.0015 (-0.11%)
     
  • USD/JPY

    110.6700
    -0.1650 (-0.15%)
     
  • BTC-USD

    33,459.14
    -658.34 (-1.93%)
     
  • CMC Crypto 200

    799.36
    +12.74 (+1.62%)
     
  • FTSE 100

    7,130.51
    +20.54 (+0.29%)
     
  • Nikkei 225

    29,066.18
    +190.95 (+0.66%)
     

Has Analog Devices (ADI) Outpaced Other Computer and Technology Stocks This Year?

  • Oops!
    Something went wrong.
    Please try again later.
·2 min read
  • Oops!
    Something went wrong.
    Please try again later.

Investors focused on the Computer and Technology space have likely heard of Analog Devices (ADI), but is the stock performing well in comparison to the rest of its sector peers? 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.

Analog Devices is a member of our Computer and Technology group, which includes 623 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. ADI is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ADI's full-year earnings has moved 5.73% 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 6.21% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 12.30% on average. This shows that Analog Devices is outperforming its peers so far this year.

Looking more specifically, ADI belongs to the Semiconductor - Analog and Mixed industry, a group that includes 12 individual stocks and currently sits at #90 in the Zacks Industry Rank. Stocks in this group have gained about 9.39% so far this year, so ADI is slightly underperforming its industry this group in terms of year-to-date returns.

ADI will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.


Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
 
Analog Devices, Inc. (ADI) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research