Is M/A-Com (MTSI) a Top Performer in Technology Stocks?
Investors searching for strong stocks in the Computer and Technology sector should consider which companies are outpacing their competition. M/A-Com (MTSI) has shown promising year-to-date performance. Let’s delve into the details.
M/A-Com’s Position in the Sector
M/A-Com is part of the Computer and Technology group, which comprises 618 companies and holds the #2 rank in the Zacks Sector Rankings. This ranking evaluates 16 different sector groups based on the average Zacks Rank of their individual stocks.
Understanding the Zacks Rank System
The Zacks Rank is a reliable method that focuses on earnings estimates and revisions. It identifies stocks expected to outperform the market over the next one to three months. Currently, M/A-Com enjoys a Zacks Rank of #1 (Strong Buy).
Strong Earnings Estimates
In the last quarter, analysts raised M/A-Com’s full-year earnings estimate by 7.2%. This upward shift indicates a more positive outlook from analysts regarding the company’s earnings potential.
Performance Metrics
M/A-Com’s stock has surged approximately 42.5% this year. In comparison, the average return for the Computer and Technology sector stands at 31.3%, highlighting M/A-Com’s superior performance in 2023.
Comparing Other Competitors
Meta Platforms (META) is another standout in the Computer and Technology sector, with a remarkable year-to-date increase of 68.7%. Over the past three months, Meta’s earnings estimate has climbed by 6.2%, earning it a Zacks Rank of #2 (Buy).
Industry Classifications and Insights
M/A-Com operates in the Semiconductor – Analog and Mixed industry, which has fallen about 8.3% this year. Notably, M/A-Com’s stock is bucking the trend within this industry group. In contrast, Meta belongs to the Internet – Software industry, which has enjoyed a positive performance of +32.4% since the year’s start.
What Investors Should Watch
Investors interested in the Computer and Technology sector should monitor M/A-Com and Meta Platforms closely as they work to sustain their impressive performance throughout the year.
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MACOM Technology Solutions Holdings, Inc. (MTSI): Free Stock Analysis Report
Meta Platforms, Inc. (META): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
