Investors focused on the Computer and Technology space have likely heard of Silicon Motion Technology (SIMO), but is the stock performing well in comparison to the rest of its sector peers? 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.
Silicon Motion Technology is one of 630 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 groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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 #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for SIMO’s full-year earnings has moved 12.45% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Our latest available data shows that SIMO has returned about 49.06% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 24.74% on a year-to-date basis. This means that Silicon Motion Technology is outperforming the sector as a whole this year.
Breaking things down more, SIMO is a member of the Electronics – Semiconductors industry, which includes 38 individual companies and currently sits at #119 in the Zacks Industry Rank. On average, this group has gained an average of 13.84% so far this year, meaning that SIMO is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on SIMO as it attempts to continue its solid performance.
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