Has Diodes (DIOD) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Diodes (DIOD), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Diodes is a member of the Computer and Technology sector. This group includes 638 individual stocks and currently holds a Zacks Sector Rank of #7. 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. DIOD is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 1.79% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, DIOD has returned 21.89% so far this year. At the same time, Computer and Technology stocks have gained an average of 21.43%. This means that Diodes is performing better than its sector in terms of year-to-date returns.
Looking more specifically, DIOD belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #105 in the Zacks Industry Rank. Stocks in this group have gained about 24.07% so far this year, so DIOD is slightly underperforming its industry this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track DIOD. The stock will be looking to continue its solid performance.
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