Markets

Is Diodes (DIOD) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of Diodes (DIOD), 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.

Diodes is one of 637 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #9 in 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. DIOD is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for DIOD's full-year earnings has moved 12% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Based on the most recent data, DIOD has returned 4.34% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 16.67% on average. This shows that Diodes is outperforming its peers so far this year.

Looking more specifically, DIOD belongs to the Electronics - Semiconductors industry, which includes 37 individual stocks and currently sits at #87 in the Zacks Industry Rank. On average, stocks in this group have gained 18.12% this year, meaning that DIOD 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 DIOD. 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.

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