Are Computer and Technology Stocks Lagging Cirrus Logic (CRUS) This Year?

Zacks
27 Feb

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Cirrus Logic (CRUS) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.

Cirrus Logic is a member of the Computer and Technology sector. This group includes 607 individual stocks and currently holds a Zacks Sector Rank of #6. 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. Cirrus Logic is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for CRUS' full-year earnings has moved 8.1% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

Based on the most recent data, CRUS has returned 10.3% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 0.9% on average. This means that Cirrus Logic is outperforming the sector as a whole this year.

Affirm Holdings (AFRM) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 6%.

The consensus estimate for Affirm Holdings' current year EPS has increased 66.5% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Cirrus Logic is a member of the Electronics - Semiconductors industry, which includes 44 individual companies and currently sits at #131 in the Zacks Industry Rank. On average, this group has lost an average of 2.6% so far this year, meaning that CRUS is performing better in terms of year-to-date returns.

In contrast, Affirm Holdings falls under the Internet - Software industry. Currently, this industry has 150 stocks and is ranked #81. Since the beginning of the year, the industry has moved +8.2%.

Investors with an interest in Computer and Technology stocks should continue to track Cirrus Logic and Affirm Holdings. These stocks will be looking to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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