Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has IPG Photonics (IPGP) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
IPG Photonics is a member of our Computer and Technology group, which includes 606 different companies and currently sits at #1 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. IPG Photonics is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for IPGP's full-year earnings has moved 23% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, IPGP has moved about 61.6% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of -10.5% on a year-to-date basis. This shows that IPG Photonics is outperforming its peers so far this year.
Applied Materials (AMAT) 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 31.2%.
Over the past three months, Applied Materials' consensus EPS estimate for the current year has increased 16.4%. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, IPG Photonics belongs to the Lasers Systems and Components industry, a group that includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, stocks in this group have gained 61.1% this year, meaning that IPGP is performing better in terms of year-to-date returns.
Applied Materials, however, belongs to the Electronics - Semiconductors industry. Currently, this 47-stock industry is ranked #84. The industry has moved -2.2% so far this year.
IPG Photonics and Applied Materials could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.
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IPG Photonics Corporation (IPGP): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).