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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. ON Semiconductor (ON) 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? 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.
ON Semiconductor is a member of our Computer and Technology group, which includes 621 different companies and currently sits at #10 in 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. ON is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for ON's full-year earnings has moved 17.62% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that ON has returned about 16.74% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 13.38%. This shows that ON Semiconductor is outperforming its peers so far this year.
Breaking things down more, ON is a member of the Semiconductor - Analog and Mixed industry, which includes 11 individual companies and currently sits at #28 in the Zacks Industry Rank. Stocks in this group have gained about 13.28% so far this year, so ON is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on ON as it attempts to continue its solid performance.
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