Jhe computer and technology group has many attractive stocks, but investors should always look for companies that are outperforming their peers. Was Sigma Lithium Corporation (SGML) one of those stocks this year? Let’s take a closer look at the stock’s year-to-date performance to find out.
Sigma Lithium Corporation is one of 664 individual stocks in the computer and technology sector. Collectively, these companies rank 9th in the Zacks industry rankings. The Zacks Sector Rankings include 16 different groups and are ranked from best to worst in terms of the average Zacks Ranking of individual companies in each of these sectors.
The Zacks Ranking is a successful stock selection 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. Sigma Lithium Corporation currently sports a Zacks rank of #2 (buy).
The Zacks consensus estimate for SGML’s full-year earnings rose 18.8% in the latest quarter. This is a sign of improving analyst sentiment and a positive trend in the earnings outlook.
Based on the most recent data, SGML has returned 44% so far this year. Meanwhile, shares of the IT & Technology group lost around 28.9% on average. As we can see, Sigma Lithium Corporation is performing better than its industry in the calendar year.
Another IT and technology stock that has outperformed the sector so far this year is Super Micro Computer (SMCI). The stock is up 8% since the start of the year.
Over the past three months, Super Micro Computer’s consensus EPS estimate for the current year has increased by 51.3%. The stock currently has a Zacks #1 rank (Strong Buy).
Specifically, Sigma Lithium Corporation belongs to the Electronics Industry – Miscellaneous Products, a group that comprises 28 individual stocks and is currently ranked 177th in the Zacks industry rankings. This group has lost an average of 37.6% since the beginning of the year, SGML is therefore more efficient in this area.
In contrast, Super Micro Computer falls under the computer storage device industry. Currently, this industry has 8 stocks and ranks 80th. Since the beginning of the year, the industry has evolved by -20.9%.
Going forward, investors interested in IT and technology stocks should continue to pay close attention to Sigma Lithium Corporation and Super Micro Computer as they may maintain their strong performance.
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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.