Has Analog Devices (ADI) Outpaced Other Computer and Technology Stocks This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Analog Devices (ADI) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Analog Devices is one of 647 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 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. Analog Devices is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ADI's full-year earnings has moved 4.8% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

According to our latest data, ADI has moved about 22.4% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 21.8% on a year-to-date basis. This means that Analog Devices is outperforming the sector as a whole this year.

One other Computer and Technology stock that has outperformed the sector so far this year is Advanced Micro Devices (AMD). The stock is up 57% year-to-date.

For Advanced Micro Devices, the consensus EPS estimate for the current year has increased 5% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Analog Devices is a member of the Semiconductor - Analog and Mixed industry, which includes 10 individual companies and currently sits at #9 in the Zacks Industry Rank. Stocks in this group have gained about 35.5% so far this year, so ADI is slightly underperforming its industry this group in terms of year-to-date returns.

On the other hand, Advanced Micro Devices belongs to the Electronics - Semiconductors industry. This 40-stock industry is currently ranked #49. The industry has moved +35% year to date.

Analog Devices and Advanced Micro Devices could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.