Has Xilinx (XLNX) 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. Xilinx (XLNX) 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.
Xilinx is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 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. XLNX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for XLNX's full-year earnings has moved 5.04% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the most recent data, XLNX has returned 24.12% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 17.46% on a year-to-date basis. As we can see, Xilinx is performing better than its sector in the calendar year.
Looking more specifically, XLNX belongs to the Semiconductors - Programmable Logic industry, which includes 1 individual stocks and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 24.97% so far this year, meaning that XLNX is slightly underperforming its industry in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track XLNX. The stock will be looking to continue its solid performance.
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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.