Investors focused on the Computer and Technology space have likely heard of Teradyne (TER), but is the stock performing well in comparison to the rest of its sector peers? 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.
Teradyne is one of 605 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. 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. TER is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for TER's full-year earnings has moved 25.74% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, TER has returned 32.37% so far this year. In comparison, Computer and Technology companies have returned an average of 20.68%. This shows that Teradyne is outperforming its peers so far this year.
Looking more specifically, TER belongs to the Electronics - Testing Equipment industry, a group that includes 7 individual stocks and currently sits at #56 in the Zacks Industry Rank. Stocks in this group have gained about 5.27% so far this year, so TER is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track TER. 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.