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Is MagnaChip Semiconductor (MX) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has MagnaChip Semiconductor (MX) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

MagnaChip Semiconductor is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. MX is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for MX's full-year earnings has moved 150% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, MX has moved about 8.35% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 0.42%. As we can see, MagnaChip Semiconductor is performing better than its sector in the calendar year.

To break things down more, MX belongs to the Semiconductor - Analog and Mixed industry, a group that includes 12 individual companies and currently sits at #75 in the Zacks Industry Rank. On average, stocks in this group have lost 7.15% this year, meaning that MX is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on MX as it attempts to continue its solid performance.


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