Is Cypress Semiconductor (CY) Stock Outpacing Its Computer and Technology Peers This Year?
For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. 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 632 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 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 is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. CY is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for CY's full-year earnings has moved 12.26% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
According to our latest data, CY has moved about 8.79% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 5.80%. This means that Cypress Semiconductor is performing better than its sector in terms of year-to-date returns.
Breaking things down more, CY is a member of the Semiconductor - Communications industry, which includes 5 individual companies and currently sits at #194 in the Zacks Industry Rank. This group has gained an average of 6% so far this year, so CY is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track CY. The stock will be looking to continue its solid performance.
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