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 Photronics (PLAB) one of those stocks right now? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Photronics is a member of our Computer and Technology group, which includes 665 different companies and currently sits at #9 in 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 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. Photronics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for PLAB’s full-year earnings has moved 25.8% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, PLAB has gained about 2.2% so far this year. At the same time, Computer and Technology stocks have lost an average of 4.2%. As we can see, Photronics is performing better than its sector in the calendar year.
Allied Motion Technologies (AMOT) 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 16.7%.
In Allied Motion Technologies’ case, the consensus EPS estimate for the current year increased 30.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, Photronics belongs to the Semiconductor Equipment – Photomasks industry, a group that includes 2 individual stocks and currently sits at #4 in the Zacks Industry Rank. Stocks in this group have gained about 2.2% so far this year, so PLAB is performing on par this group in terms of year-to-date returns.
Allied Motion Technologies, however, belongs to the Instruments – Control industry. Currently, this 7-stock industry is ranked #212. The industry has moved +0.9% so far this year.
Investors with an interest in Computer and Technology stocks should continue to track Photronics and Allied Motion Technologies. These stocks will be looking to continue their 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.