Is NXP Semiconductors N.V. (NXPI) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of NXP Semiconductors N.V. (NXPI), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of NXPI and the rest of the Computer and Technology group's stocks.
NXP Semiconductors N.V. is a member of the Computer and Technology sector. This group includes 637 individual stocks and currently holds a Zacks Sector Rank of #7. 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 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. NXPI is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NXPI's full-year earnings has moved 5.70% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, NXPI has returned 31.93% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 17.46% on average. This means that NXP Semiconductors N.V. is performing better than its sector in terms of year-to-date returns.
Breaking things down more, NXPI is a member of the Semiconductor - Analog and Mixed industry, which includes 12 individual companies and currently sits at #229 in the Zacks Industry Rank. This group has gained an average of 17.96% so far this year, so NXPI is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track NXPI. 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.