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Has Mellanox Technologies (MLNX) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors focused on the Computer and Technology space have likely heard of Mellanox Technologies (MLNX), 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.

Mellanox Technologies is one of 616 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within 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. MLNX is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for MLNX's full-year earnings has moved 7.12% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

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Our latest available data shows that MLNX has returned about 2.19% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 9.25%. This shows that Mellanox Technologies is outperforming its peers so far this year.

To break things down more, MLNX belongs to the Electronics - Semiconductors industry, a group that includes 35 individual companies and currently sits at #58 in the Zacks Industry Rank. On average, this group has lost an average of 12.44% so far this year, meaning that MLNX is performing better in terms of year-to-date returns.

MLNX 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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Zacks Investment Research