November 1, 2024

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Are Computer and Technology Stocks Lagging Advantest (ATEYY) This Year?

Are Computer and Technology Stocks Lagging Advantest (ATEYY) This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Advantest Corp. (ATEYY) been one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.

Advantest Corp. is a member of our Computer and Technology group, which includes 621 different companies and currently sits at #5 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Advantest Corp. is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for ATEYY’s full-year earnings has moved 26% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, ATEYY has returned 55.8% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 26.4% on average. This means that Advantest Corp. is performing better than its sector in terms of year-to-date returns.

Monday.com (MNDY) 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 54.2%.

The consensus estimate for Monday.com’s current year EPS has increased 304.2% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Advantest Corp. belongs to the Electronics – Measuring Instruments industry, a group that includes 5 individual stocks and currently sits at #26 in the Zacks Industry Rank. On average, this group has gained an average of 0.5% so far this year, meaning that ATEYY is performing better in terms of year-to-date returns.

Monday.com, however, belongs to the Internet – Software industry. Currently, this 143-stock industry is ranked #78. The industry has moved +27.2% so far this year.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Advantest Corp. and Monday.com as they could maintain their solid performance.

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