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Is MagnaChip Semiconductor (MX) Outperforming Other Computer and Technology Stocks This Year?

Zacks Equity Research

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. MagnaChip Semiconductor (MX) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? One simple way to answer this question is to take a look at the year-to-date performance of MX and the rest of the Computer and Technology group's stocks.

MagnaChip Semiconductor is a member of the Computer and Technology sector. This group includes 614 individual stocks and currently holds a Zacks Sector Rank of #3. 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. MX is currently sporting a Zacks Rank of #1 (Strong Buy).

Within the past quarter, the Zacks Consensus Estimate for MX's full-year earnings has moved 36.92% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

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According to our latest data, MX has moved about 4.65% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of -1.70%. This shows that MagnaChip Semiconductor is outperforming its peers so far this year.

Looking more specifically, MX belongs to the Semiconductor - Analog and Mixed industry, which includes 12 individual stocks and currently sits at #138 in the Zacks Industry Rank. On average, this group has lost an average of 8.18% so far this year, meaning that MX is performing better in terms of year-to-date returns.

Investors in the Computer and Technology sector will want to keep a close eye on MX as it attempts to continue its solid performance.


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