Is Texas Instruments (TXN) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Texas Instruments (TXN), 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.
Texas Instruments is one of 605 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #4 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 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. TXN is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for TXN's full-year earnings has moved 26.52% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, TXN has returned 9.38% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 24.45% on average. This shows that Texas Instruments is outperforming its peers so far this year.
Looking more specifically, TXN belongs to the Semiconductor - General industry, which includes 8 individual stocks and currently sits at #71 in the Zacks Industry Rank. This group has gained an average of 26.30% so far this year, so TXN is slightly underperforming its industry in this area.
TXN will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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