Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Cypress Semiconductor (CY) 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 CY and the rest of the Computer and Technology group's stocks.
Cypress Semiconductor is one of 625 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #2 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. CY is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for CY's full-year earnings has moved 2.42% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that CY has returned about 2.23% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 12.34% on a year-to-date basis. This means that Cypress Semiconductor is outperforming the sector as a whole this year.
Looking more specifically, CY belongs to the Semiconductor - Communications industry, which includes 5 individual stocks and currently sits at #13 in the Zacks Industry Rank. On average, stocks in this group have lost 6.05% this year, meaning that CY is performing better in terms of year-to-date returns.
CY will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
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