The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Immersion (IMMR) one of those stocks right now? 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.
Immersion is one of 617 companies in the Computer and Technology group. The Computer and Technology group currently sits at #8 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. Immersion is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for IMMR's full-year earnings has moved 35.1% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Our latest available data shows that IMMR has returned about 41.4% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 11.5% on average. This means that Immersion is performing better than its sector in terms of year-to-date returns.
Another stock in the Computer and Technology sector, TSMC (TSM), has outperformed the sector so far this year. The stock's year-to-date return is 49.1%.
Over the past three months, TSMC's consensus EPS estimate for the current year has increased 4.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Breaking things down more, Immersion is a member of the Computer - Peripheral Equipment industry, which includes 9 individual companies and currently sits at #107 in the Zacks Industry Rank. Stocks in this group have lost about 29.7% so far this year, so IMMR is performing better this group in terms of year-to-date returns.
TSMC, however, belongs to the Semiconductor - Circuit Foundry industry. Currently, this 1-stock industry is ranked #1. The industry has moved +49.1% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Immersion and TSMC as they attempt to continue their 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.
