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Silicon Motion Technology Corporation (SIMO) - free report >>
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Silicon Motion Technology Corporation (SIMO) - free report >>
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Is Silicon Motion Technology (SIMO) Outperforming Other Computer and Technology Stocks This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Silicon Motion Technology (SIMO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of SIMO and the rest of the Computer and Technology group's stocks.
Silicon Motion Technology is a member of the Computer and Technology sector. This group includes 647 individual stocks and currently holds a Zacks Sector Rank of #7. 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. SIMO is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for SIMO's full-year earnings has moved 2.68% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, SIMO has moved about 46.13% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 29.10%. This shows that Silicon Motion Technology is outperforming its peers so far this year.
To break things down more, SIMO belongs to the Electronics - Semiconductors industry, a group that includes 40 individual companies and currently sits at #49 in the Zacks Industry Rank. Stocks in this group have gained about 36.93% so far this year, so SIMO is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to SIMO as it looks to continue its solid performance.