Computer

Is ON Semiconductor (ON) Outperforming Other Computer and Technology Stocks This Year? – May 20, 2021

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 ON Semiconductor (ON Free Report) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.

ON Semiconductor is a member of our Computer and Technology group, which includes 620 different companies and currently sits at #11 in 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ON is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ON’s full-year earnings has moved 17.70{1936381d4253f19a98bc2ecae94a0b0438ab0e234f1c555690d854373a3c9a42} higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Our latest available data shows that ON has returned about 14.45{1936381d4253f19a98bc2ecae94a0b0438ab0e234f1c555690d854373a3c9a42} since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 8.04{1936381d4253f19a98bc2ecae94a0b0438ab0e234f1c555690d854373a3c9a42}. As we can see, ON Semiconductor is performing better than its sector in the calendar year.

Looking more specifically, ON belongs to the Semiconductor – Analog and Mixed industry, a group that includes 11 individual stocks and currently sits at #18 in the Zacks Industry Rank. This group has gained an average of 6.44{1936381d4253f19a98bc2ecae94a0b0438ab0e234f1c555690d854373a3c9a42} so far this year, so ON is performing better in this area.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ON as it looks to continue its solid performance.