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Has Synaptics (SYNA) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2 min read

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. Has Synaptics (SYNA) 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.

Synaptics is one of 614 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 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. SYNA is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for SYNA's full-year earnings has moved 13.34% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

According to our latest data, SYNA has moved about 44.09% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 40.84%. This means that Synaptics is performing better than its sector in terms of year-to-date returns.

Breaking things down more, SYNA is a member of the Electronics - Semiconductors industry, which includes 36 individual companies and currently sits at #89 in the Zacks Industry Rank. This group has gained an average of 59.20% so far this year, so SYNA is slightly underperforming its industry in this area.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SYNA as it looks to continue its solid performance.

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Zacks Investment Research