Markets

Is Acacia Communications (ACIA) Stock Outpacing Its Computer and Technology Peers This Year?

Investors focused on the Computer and Technology space have likely heard of Acacia Communications (ACIA), but is the stock performing well in comparison to the rest of its sector peers? 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.

Acacia Communications is one of 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. ACIA is currently sporting a Zacks Rank of #2 (Buy).

The Zacks Consensus Estimate for ACIA's full-year earnings has moved 64.86% higher within the past quarter. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

According to our latest data, ACIA has moved about 3.34% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 11.10% on a year-to-date basis. This means that Acacia Communications is performing better than its sector in terms of year-to-date returns.

Looking more specifically, ACIA belongs to the Communication - Components industry, a group that includes 24 individual stocks and currently sits at #64 in the Zacks Industry Rank. This group has gained an average of 6.14% so far this year, so ACIA is slightly underperforming its industry in this area.

ACIA will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Acacia Communications, Inc. (ACIA): Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research

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


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

In This Story

ACIA

Other Topics

Investing Stocks

Latest Markets Videos

    Zacks

    Zacks is the leading investment research firm focusing on stock research, analysis and recommendations. In 1978, our founder discovered the power of earnings estimate revisions to enable profitable investment decisions. Today, that discovery is still the heart of the Zacks Rank. A wealth of resources for individual investors is available at www.zacks.com.

    Learn More