December 4, 2022

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It's the Technology

Has ON Semiconductor (ON) Outpaced Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is ON Semiconductor (ON) one of those stocks right now? 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.

ON Semiconductor is a member of our Computer and Technology group, which includes 625 different companies and currently sits at #11 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. ON is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for ON’s full-year earnings has moved 28.70% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.

Based on the latest available data, ON has gained about 50.60% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 25.19% on average. This shows that ON Semiconductor is outperforming its peers so far this year.

Breaking things down more, ON is a member of the Semiconductor – Analog and Mixed industry, which includes 10 individual companies and currently sits at #20 in the Zacks Industry Rank. On average, this group has gained an average of 27.18% so far this year, meaning that ON is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to ON as it looks to continue its solid performance.

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