June 18, 2024


Super Technology

Is Diodes (DIOD) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of Diodes (DIOD), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of DIOD and the rest of the Computer and Technology group’s stocks.

Diodes is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #12 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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. DIOD is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past three months, the Zacks Consensus Estimate for DIOD’s full-year earnings has moved 18.58% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the latest available data, DIOD has gained about 27.99% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 22.31% on average. This means that Diodes is performing better than its sector in terms of year-to-date returns.

Breaking things down more, DIOD is a member of the Electronics – Semiconductors industry, which includes 38 individual companies and currently sits at #119 in the Zacks Industry Rank. Stocks in this group have gained about 11.54% so far this year, so DIOD is performing better this group 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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