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. Is Lattice Semiconductor (LSCC) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.
Lattice Semiconductor is one of 608 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 within 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 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. Lattice Semiconductor is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for LSCC's full-year earnings has moved 11.2% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, LSCC has gained about 24.5% so far this year. Meanwhile, the Computer and Technology sector has returned an average of -2.4% on a year-to-date basis. As we can see, Lattice Semiconductor is performing better than its sector in the calendar year.
One other Computer and Technology stock that has outperformed the sector so far this year is Entegris (ENTG). The stock is up 53.1% year-to-date.
Over the past three months, Entegris' consensus EPS estimate for the current year has increased 6.2%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Lattice Semiconductor belongs to the Electronics - Semiconductors industry, which includes 47 individual stocks and currently sits at #85 in the Zacks Industry Rank. Stocks in this group have gained about 1.5% so far this year, so LSCC is performing better this group in terms of year-to-date returns. Entegris is also part of the same industry.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Lattice Semiconductor and Entegris as they could maintain their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
