Is Himax Technologies (HIMX) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Himax Technologies (HIMX), but is the stock performing well in comparison to the rest of its sector peers? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Himax Technologies is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #5 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. HIMX is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for HIMX's full-year earnings has moved 175.61% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, HIMX has moved about 40.23% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of -6.14% on a year-to-date basis. This means that Himax Technologies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, HIMX belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has lost an average of 12.82% so far this year, so HIMX is performing better in this area.
HIMX 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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