Investors focused on the Computer and Technology space have likely heard of Taiwan Semiconductor Manufacturing Company (TSM), but is the stock performing well in comparison to the rest of its sector peers? 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.
Taiwan Semiconductor Manufacturing Company is one of 603 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. TSM is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for TSM’s full-year earnings has moved 11.96% higher within the past quarter. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
According to our latest data, TSM has moved about 35.80% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 21.20% on average. This means that Taiwan Semiconductor Manufacturing Company is performing better than its sector in terms of year-to-date returns.
Breaking things down more, TSM is a member of the Semiconductor – Circuit Foundry industry, which includes 1 individual companies and currently sits at #8 in the Zacks Industry Rank. On average, this group has gained an average of 36.94% so far this year, meaning that TSM is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to TSM as it looks to continue its solid performance.
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