Is InterDigital (IDCC) Stock Outpacing Its Computer and Technology Peers This Year?
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. InterDigital (IDCC) 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? 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.
InterDigital is one of 639 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within 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 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. InterDigital is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for IDCC's full-year earnings has moved 180.4% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, IDCC has returned 94% so far this year. At the same time, Computer and Technology stocks have gained an average of 36.3%. This means that InterDigital is performing better than its sector in terms of year-to-date returns.
inTest Corporation (INTT) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 152.6%.
Over the past three months, inTest Corporation's consensus EPS estimate for the current year has increased 23.3%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, InterDigital belongs to the Wireless Equipment industry, a group that includes 14 individual stocks and currently sits at #112 in the Zacks Industry Rank. This group has gained an average of 2.6% so far this year, so IDCC is performing better in this area.
In contrast, inTest Corporation falls under the Electronics - Measuring Instruments industry. Currently, this industry has 5 stocks and is ranked #112. Since the beginning of the year, the industry has moved +0.2%.
Investors interested in the Computer and Technology sector may want to keep a close eye on InterDigital and inTest Corporation as they attempt to continue their solid performance.
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InterDigital, Inc. (IDCC) : Free Stock Analysis Report
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