Investors focused on the Computer and Technology space have likely heard of Cypress Semiconductor (CY), but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Cypress Semiconductor is a member of the Computer and Technology sector. This group includes 635 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. CY is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for CY's full-year earnings has moved 4.91% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, CY has gained about 74.29% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 19.86% on a year-to-date basis. This shows that Cypress Semiconductor is outperforming its peers so far this year.
Breaking things down more, CY is a member of the Semiconductor - Communications industry, which includes 5 individual companies and currently sits at #110 in the Zacks Industry Rank. Stocks in this group have gained about 54.34% so far this year, so CY is performing better this group in terms of year-to-date returns.
CY 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.
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