Is NXP Semiconductors N.V. (NXPI) Outperforming Other Computer and Technology Stocks This Year?
Is (NXPI) Outperforming Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of NXP Semiconductors N.V. (NXPI), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
NXP Semiconductors N.V. is one of 628 companies in the Computer and Technology group. The Computer and Technology group currently sits at #12 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
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. NXPI is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for NXPI's full-year earnings has moved 8.28% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the latest available data, NXPI has gained about 43.16% so far this year. At the same time, Computer and Technology stocks have gained an average of 27.20%. This means that NXP Semiconductors N.V. is outperforming the sector as a whole this year.
Looking more specifically, NXPI belongs to the Semiconductor - Analog and Mixed industry, which includes 10 individual stocks and currently sits at #36 in the Zacks Industry Rank. On average, this group has gained an average of 23.93% so far this year, meaning that NXPI 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 NXPI as it attempts to continue its solid performance.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
NXP Semiconductors N.V. (NXPI): Free Stock Analysis Report
To read this article on Zacks.com click here.