Has Analog Devices (ADI) outperformed other IT and tech stocks this year?


IInvestors interested in IT and technology stocks should always seek out the best performing companies in the group. Was Analog Devices (ADI) one of these actions this year? Let’s take a closer look at the stock’s performance since the start of the year to find out.

Analog Devices is one of 647 individual stocks in the Computer & Technology industry. Collectively, these companies are ranked 9th in the Zacks industry rankings. Zacks’ industry ranking considers 16 different industry groups. The average Zacks rank of individual stocks within groups is measured and sectors are ranked from best to worst.

Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that display the right characteristics to beat the market over the next one to three months. Analog Devices currently has a Zacks # 2 (Buy) rating.

Zacks’ consensus estimate for ADI’s annual profit rose 4.8% in the last quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

According to our latest data, ADI has evolved by around 22.4% since the start of the year. Meanwhile, the IT and tech sector has posted an average return of 21.8% year-to-date. This means that Analog Devices is outperforming the industry as a whole this year.

Another IT and tech title that has outperformed the industry so far this year is Advanced Micro Devices (AMD). The title is up 57% since the start of the year.

For Advanced Micro Devices, the consensus estimate of EPS for the current year has increased 5% in the past three months. The stock currently has a Zacks Rank # 2 (Buy).

To break it down further, Analog Devices is a member of the Semiconductor Industry – Analog and Mixed, which consists of 10 individual companies and currently ranks 9th in the Zacks Industry Rankings. Shares in this group have gained around 35.5% so far this year, so ADI is slightly underperforming its industry in this group in terms of year-to-date returns.

On the other hand, Advanced Micro Devices belongs to Electronics – Semiconductors industry. This industry of 40 stocks is currently ranked 49th. The industry has evolved by + 35% since the start of the year.

Analog Devices and Advanced Micro Devices could continue their strong performance, so investors interested in IT and tech stocks should continue to pay close attention to these stocks.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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