Computer & Technology

Is Diodes (DIOD) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Diodes (DIOD) 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.

Diodes is a member of our Computer and Technology group, which includes 648 different companies and currently sits at #6 in 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. DIOD is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for DIOD’s full-year earnings has moved 9.42% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, DIOD has gained about 48.99% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 28.50% on average. This means that Diodes is outperforming the sector as a whole this year.

Breaking things down more, DIOD is a member of the Electronics – Semiconductors industry, which includes 40 individual companies and currently sits at #45 in the Zacks Industry Rank. On average, stocks in this group have gained 31.45% this year, meaning that DIOD is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to DIOD as it looks to continue its solid performance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.