Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Synaptics (SYNA) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Synaptics is a member of the Computer and Technology sector. This group includes 605 individual stocks and currently holds a Zacks Sector Rank of #4. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. SYNA is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SYNA's full-year earnings has moved 46.21% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, SYNA has gained about 24.69% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 24.45% on a year-to-date basis. This means that Synaptics is outperforming the sector as a whole this year.
To break things down more, SYNA belongs to the Electronics - Semiconductors industry, a group that includes 35 individual companies and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 23.50% so far this year, meaning that SYNA is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track SYNA. 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.