Is ON Semiconductor (ON) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of ON Semiconductor (ON), but is the stock performing well in comparison to the rest of its sector peers? 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.

ON Semiconductor is a member of our Computer and Technology group, which includes 648 different companies and currently sits at #7 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. ON is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for ON’s full-year earnings has moved 5.24% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the most recent data, ON has returned 74.58% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 26.07% on a year-to-date basis. This shows that ON Semiconductor is outperforming its peers so far this year.

Looking more specifically, ON belongs to the Semiconductor – Analog and Mixed industry, which includes 10 individual stocks and currently sits at #28 in the Zacks Industry Rank. Stocks in this group have gained about 28.26% so far this year, so ON 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 ON. The stock will be looking to continue its solid performance.

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