May 17, 2024

Is Silicon Motion Technology (SIMO) Stock Outpacing Its Computer and Technology Peers This Year?

This story initially appeared on Zacks

The Computer and Engineering group has a lot of excellent stocks, but investors must normally be hunting for companies that are outperforming their peers. Is Silicon Motion Technological know-how (SIMO) one of those people shares right now? By having a look at the stock’s yr-to-day overall performance in comparison to its Personal computer and Technology friends, we may possibly be capable to reply that query.

– Zacks

Silicon Motion Engineering is just one of 626 businesses in the Pc and Technologies team. The Computer and Technological know-how team at the moment sits at #12 inside the Zacks Sector Rank. The Zacks Sector Rank features 16 distinct teams and is outlined in purchase from best to worst in phrases of the regular Zacks Rank of the unique providers in every of these sectors.

The Zacks Rank emphasizes earnings estimates and estimate revisions to obtain shares with strengthening earnings outlooks. This technique has a extended file of success, and these stocks are inclined to be on observe to defeat the sector more than the upcoming just one to a few months. SIMO is presently sporting a Zacks Rank of #1 (Sturdy Get).

In excess of the previous three months, the Zacks Consensus Estimate for SIMO’s whole-12 months earnings has moved 18.10{18fa003f91e59da06650ea58ab756635467abbb80a253ef708fe12b10efb8add} increased. This signals that analyst sentiment is improving and the stock’s earnings outlook is much more beneficial.

Primarily based on the newest available knowledge, SIMO has acquired about 54.68{18fa003f91e59da06650ea58ab756635467abbb80a253ef708fe12b10efb8add} so considerably this calendar year. In the meantime, shares in the Laptop and Technologies team have acquired about 23.54{18fa003f91e59da06650ea58ab756635467abbb80a253ef708fe12b10efb8add} on average. This exhibits that Silicon Motion Technologies is outperforming its friends so considerably this 12 months.

To split matters down a lot more, SIMO belongs to the Electronics – Semiconductors marketplace, a group that contains 38 particular person firms and at present sits at #125 in the Zacks Business Rank. This team has gained an normal of 17.22{18fa003f91e59da06650ea58ab756635467abbb80a253ef708fe12b10efb8add} so considerably this 12 months, so SIMO is carrying out greater in this space.

SIMO will most likely be looking to proceed its stable efficiency, so investors fascinated in Pc and Technological know-how shares must keep on to fork out shut notice to the corporation.

Extra Stock Information: This Is Greater than the Apple iphone!

It could become the mother of all technological revolutions. Apple offered a mere 1 billion iPhones in 10 years but a new breakthrough is expected to produce a lot more than 77 billion gadgets by 2025, creating a $1.3 trillion market.

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