Has InterDigital (IDCC) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of InterDigital (IDCC), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
InterDigital is one of 613 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #3 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. IDCC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for IDCC's full-year earnings has moved 68.51% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Based on the latest available data, IDCC has gained about 4.13% so far this year. At the same time, Computer and Technology stocks have gained an average of 3.22%. This means that InterDigital is outperforming the sector as a whole this year.
Breaking things down more, IDCC is a member of the Wireless Equipment industry, which includes 15 individual companies and currently sits at #76 in the Zacks Industry Rank. On average, stocks in this group have lost 8.72% this year, meaning that IDCC is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on IDCC as it attempts to continue its solid performance.
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