Those looking for strong computer and technology stocks would be wise to look for companies in their group that outperform their peers. Axcelis Technologies (ACLs – Free Report) is certainly a stock that could attract the attention of many investors, but are recent returns favorable relative to the sector as a whole? Year-to-date share price performance relative to computer and technology peers You may be able to answer that question by looking at
Axcelis Technologies is one of the 654 companies in the Computer and Technology group. The computer and technology group currently sits at his No. 6 position within Zacks sector rankings. Zacks Sector Rank considers 16 different groups and measures the average Zacks Rank of individual stocks within a sector to measure the strength of each group.
Zacks Rank focuses on earnings estimates and estimates revisions to find stocks with improving earnings prospects. The system has a long record of success and these stocks are likely to beat the market in the next 1-3 months. Axcelis Technologies currently boasts Zacks Rank #2 (Buy).
Over the past three months, the Zachs consensus forecast for ACLS full-year earnings rose 2.7%. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
According to the latest data, ACLS has moved about 6.5% on a year-to-date basis. At the same time, computer and technology stocks fell an average of 35.2%. This shows that Axcelis Technologies has outperformed its peers so far this year.
Another computer and technology stock to outperform the sector so far this year is Tencent Music Entertainment Group Sponsored ADR (TME – free report). Year-to-date, the stock is up 22.5%.
Over the past three months, ADR’s consensus EPS estimate for the year, sponsored by Tencent Music Entertainment Group, increased by 20%. The inventory is currently Zacks Rank 2nd (Buy).
More specifically, Axcelis Technologies belongs to the electronic manufacturing machinery industry, a group that includes 10 individual companies and is currently ranked 233rd in Zacks industry rankings. On average, the group’s stocks have fallen 42.5% this year.
However, Tencent Music Entertainment Group’s sponsored ADR belongs to the Internet-content industry. Currently, this 16-stock industry ranks his 75th. The industry has moved -38.5% so far this year.
Investors interested in the computer and technology sector should take note that Axcelis Technologies and Tencent Music Entertainment Group Sponsored ADR are looking to continue their strong performance.