Is Mellanox Technologies (MLNX) 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. Has Mellanox Technologies (MLNX) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Mellanox Technologies is a member of our Computer and Technology group, which includes 660 different companies and currently sits at #4 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. MLNX is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 4.43% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, MLNX has returned 43.20% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 4.11% on average. As we can see, Mellanox Technologies is performing better than its sector in the calendar year.
To break things down more, MLNX belongs to the Electronics - Semiconductors industry, a group that includes 40 individual companies and currently sits at #113 in the Zacks Industry Rank. Stocks in this group have lost about 2.71% so far this year, so MLNX is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track MLNX. The stock will be looking to continue its solid performance.
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