Is Impinj (PI) Outperforming Other Computer and Technology Stocks This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Impinj (PI) one of those stocks right now? 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.

Impinj is one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #1 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Impinj is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for PI’s full-year earnings has moved 1233.3% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.

Based on the most recent data, PI has returned 36.2% so far this year. In comparison, Computer and Technology companies have returned an average of 21.6%. As we can see, Impinj is performing better than its sector in the calendar year.

One other Computer and Technology stock that has outperformed the sector so far this year is Arqit Quantum Inc. (ARQQ). The stock is up 49.7% year-to-date.

In Arqit Quantum Inc.’s case, the consensus EPS estimate for the current year increased 1.8% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Impinj is a member of the Electronics – Semiconductors industry, which includes 45 individual companies and currently sits at #67 in the Zacks Industry Rank. This group has gained an average of 37.6% so far this year, so PI is slightly underperforming its industry in this area.

In contrast, Arqit Quantum Inc. falls under the Internet – Software industry. Currently, this industry has 169 stocks and is ranked #62. Since the beginning of the year, the industry has moved +17.1%.

Investors interested in the Computer and Technology sector may want to keep a close eye on Impinj and Arqit Quantum Inc. as they attempt to continue their solid performance.

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This article originally published on Zacks Investment Research (zacks.com).

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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.