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Is Diodes (DIOD) Stock Outpacing Its Computer and Technology Peers This Year?

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  • DIOD

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? 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.

Diodes is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #13 within the Zacks Sector Rank. 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 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. DIOD is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 12.53% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, DIOD has gained about 23.94% so far this year. At the same time, Computer and Technology stocks have gained an average of 23.74%. As we can see, Diodes is performing better than its sector in the calendar year.

Looking more specifically, DIOD belongs to the Electronics - Semiconductors industry, which includes 38 individual stocks and currently sits at #91 in the Zacks Industry Rank. On average, stocks in this group have gained 17.48% this year, meaning that DIOD is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DIOD as it looks to continue its solid performance.


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