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. Himax Technologies (HIMX) 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 HIMX and the rest of the Computer and Technology group’s stocks.
Himax Technologies is one of 620 companies in the Computer and Technology group. The Computer and Technology group currently sits at #10 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. HIMX is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for HIMX’s full-year earnings has moved 166.67% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that HIMX has returned about 84.03% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 15.32%. This means that Himax Technologies is performing better than its sector in terms of year-to-date returns.
To break things down more, HIMX belongs to the Electronics – Semiconductors industry, a group that includes 35 individual companies and currently sits at #115 in the Zacks Industry Rank. Stocks in this group have gained about 5.62% so far this year, so HIMX is performing better this group in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track HIMX. The stock will be looking to continue its solid performance.
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Himax Technologies, Inc. (HIMX) : Free Stock Analysis Report
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