For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Synaptics (SYNA) one of those stocks right now? 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.
Synaptics is one of 601 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. SYNA is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for SYNA’s full-year earnings has moved 62.37% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the most recent data, SYNA has returned 23.25% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 22.58% on average. This means that Synaptics is outperforming the sector as a whole this year.
Breaking things down more, SYNA is a member of the Electronics – Semiconductors industry, which includes 35 individual companies and currently sits at #64 in the Zacks Industry Rank. This group has gained an average of 29.54% so far this year, so SYNA is slightly underperforming its industry in this area.
SYNA 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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