July 15, 2024


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Is Advantest Corp. (ATEYY) Stock Outpacing Its Computer and Technology Peers This Year? – December 23, 2021

Is Advantest Corp. (ATEYY) Stock Outpacing Its Computer and Technology Peers This Year? – December 23, 2021

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Advantest Corp. (ATEYY Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let’s take a closer look at the stock’s year-to-date performance to find out.

Advantest Corp. is one of 647 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).

Over the past three months, the Zacks Consensus Estimate for ATEYY’s full-year earnings has moved 1.8% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Our latest available data shows that ATEYY has returned about 26.7% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 25.7% on average. This means that Advantest Corp. is performing better than its sector in terms of year-to-date returns.

One other Computer and Technology stock that has outperformed the sector so far this year is Alphabet Inc. (GOOG Free Report) . The stock is up 67.8% year-to-date.

In Alphabet Inc.’s case, the consensus EPS estimate for the current year increased 6.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Advantest Corp. belongs to the Electronics – Measuring Instruments industry, a group that includes 4 individual stocks and currently sits at #36 in the Zacks Industry Rank. On average, stocks in this group have gained 52.5% this year, meaning that ATEYY is slightly underperforming its industry in terms of year-to-date returns.

Alphabet Inc. however, belongs to the Internet – Services industry. Currently, this 49-stock industry is ranked #173. The industry has moved +40.7% so far this year.

Advantest Corp. and Alphabet Inc. could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.