Are Computer and Technology Stocks Lagging Entegris (ENTG) This Year?
Here is how Entegris (ENTG) and Arista Networks (ANET) have performed compared to their sector so far this year.
Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Entegris (ENTG) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Entegris is one of 614 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. 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 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. Entegris is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ENTG's full-year earnings has moved 9% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, ENTG has gained about 70.5% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 15.7% on a year-to-date basis. This means that Entegris is performing better than its sector in terms of year-to-date returns.
Arista Networks (ANET) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 44%.
Over the past three months, Arista Networks' consensus EPS estimate for the current year has increased 14.2%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Entegris belongs to the Electronics - Semiconductors industry, which includes 49 individual stocks and currently sits at #38 in the Zacks Industry Rank. This group has gained an average of 27.5% so far this year, so ENTG is performing better in this area.
Arista Networks, however, belongs to the Internet - Software industry. Currently, this 174-stock industry is ranked #75. The industry has moved -4.2% so far this year.
Investors interested in the Computer and Technology sector may want to keep a close eye on Entegris and Arista Networks as they attempt to continue their solid performance.
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This article originally published on Zacks Investment Research (zacks.com).