Is Mellanox Technologies (MLNX) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Mellanox Technologies (MLNX), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Mellanox Technologies is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #3 in 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. MLNX is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 7.72% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, MLNX has moved about 17% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 10.33%. This means that Mellanox Technologies is performing better than its sector in terms of year-to-date returns.
Looking more specifically, MLNX belongs to the Electronics - Semiconductors industry, which includes 33 individual stocks and currently sits at #88 in the Zacks Industry Rank. This group has gained an average of 4.48% so far this year, so MLNX is performing better in this area.
MLNX will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.
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