Are Computer and Technology Stocks Lagging Camtek (CAMT) This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Camtek (CAMT) been one of those stocks this year? 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.
Camtek is a member of the Computer and Technology sector. This group includes 631 individual stocks and currently holds a Zacks Sector Rank of #8. 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 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. Camtek is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CAMT's full-year earnings has moved 10.3% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, CAMT has returned 177% so far this year. At the same time, Computer and Technology stocks have gained an average of 34.5%. This shows that Camtek is outperforming its peers so far this year.
Another Computer and Technology stock, which has outperformed the sector so far this year, is ON Semiconductor Corp. (ON). The stock has returned 44.3% year-to-date.
Over the past three months, ON Semiconductor Corp.'s consensus EPS estimate for the current year has increased 8.2%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Camtek belongs to the Electronics - Measuring Instruments industry, a group that includes 5 individual companies and currently sits at #66 in the Zacks Industry Rank. Stocks in this group have lost about 15.2% so far this year, so CAMT is performing better this group in terms of year-to-date returns.
In contrast, ON Semiconductor Corp. falls under the Semiconductor - Analog and Mixed industry. Currently, this industry has 10 stocks and is ranked #103. Since the beginning of the year, the industry has moved +17.4%.
Camtek and ON Semiconductor Corp. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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
Camtek Ltd. (CAMT) : Free Stock Analysis Report
ON Semiconductor Corporation (ON) : Free Stock Analysis Report
