October 30, 2020

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Is Synaptics (SYNA) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of Synaptics (SYNA), but...

Investors focused on the Computer and Technology space have likely heard of Synaptics (SYNA), 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.

Synaptics is a member of our Computer and Technology group, which includes 606 different companies and currently sits at #10 in 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 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. SYNA is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for SYNA’s full-year earnings has moved 7.52% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the most recent data, SYNA has returned 9.55% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 18.22% on average. This means that Synaptics is performing better than its sector in terms of year-to-date returns.

Looking more specifically, SYNA belongs to the Electronics – Semiconductors industry, which includes 35 individual stocks and currently sits at #107 in the Zacks Industry Rank. On average, stocks in this group have gained 8.14% this year, meaning that SYNA is performing better in terms of year-to-date returns.

SYNA will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.

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