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Has Analog Devices (ADI) Outpaced Other Computer and Technology Stocks This Year?

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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Analog Devices (ADI - Free Report) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Analog Devices is one of 665 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 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Analog Devices is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ADI's full-year earnings has moved 4.3% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the latest available data, ADI has gained about 0.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 0.7% on average. This means that Analog Devices is outperforming the sector as a whole this year.

One other Computer and Technology stock that has outperformed the sector so far this year is Alpha and Omega Semiconductor (AOSL - Free Report) . The stock is up 2.7% year-to-date.

For Alpha and Omega Semiconductor, the consensus EPS estimate for the current year has increased 24.4% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

To break things down more, Analog Devices belongs to the Semiconductor - Analog and Mixed industry, a group that includes 10 individual companies and currently sits at #43 in the Zacks Industry Rank. On average, stocks in this group have gained 1.3% this year, meaning that ADI is slightly underperforming its industry in terms of year-to-date returns.

On the other hand, Alpha and Omega Semiconductor belongs to the Electronics - Semiconductors industry. This 43-stock industry is currently ranked #91. The industry has moved +1.4% year to date.

Analog Devices and Alpha and Omega Semiconductor could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.


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