Is Himax Technologies (HIMX) Stock Outpacing Its Computer and Technology Peers 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 one of 601 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 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 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. HIMX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HIMX's full-year earnings has moved 266.67% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that HIMX has returned about 26.32% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 17.96% on a year-to-date basis. This means that Himax Technologies is outperforming the sector as a whole this year.
Looking more specifically, HIMX belongs to the Electronics - Semiconductors industry, a group that includes 35 individual stocks and currently sits at #76 in the Zacks Industry Rank. On average, this group has gained an average of 22.92% so far this year, meaning that HIMX is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track HIMX. The stock will be looking to continue its solid performance.
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