For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Advantest Corp. (ATEYY) been one of those stocks this year? By taking a look at the stock’s year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Advantest Corp. is one of 616 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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. Advantest Corp. is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for ATEYY’s full-year earnings has moved 8.6% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Based on the latest available data, ATEYY has gained about 37.2% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 24.2% on average. This shows that Advantest Corp. is outperforming its peers so far this year.
One other Computer and Technology stock that has outperformed the sector so far this year is Innodata Inc. (INOD). The stock is up 89.3% year-to-date.
Over the past three months, Innodata Inc.’s consensus EPS estimate for the current year has increased 18.9%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Advantest Corp. belongs to the Electronics – Measuring Instruments industry, a group that includes 5 individual stocks and currently sits at #94 in the Zacks Industry Rank. This group has lost an average of 4.5% so far this year, so ATEYY is performing better in this area.
On the other hand, Innodata Inc. belongs to the Computer – Services industry. This 11-stock industry is currently ranked #94. The industry has moved +13.7% year to date.
Advantest Corp. and Innodata Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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