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Are Computer and Technology Stocks Lagging Harmonic (HLIT) This Year?

Zacks Equity Research
·2-min read

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Harmonic (HLIT) 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? 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.

Harmonic is a member of our Computer and Technology group, which includes 654 different companies and currently sits at #5 in the Zacks Sector Rank. 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 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. Harmonic is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for HLIT's full-year earnings has moved 15.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

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Our latest available data shows that HLIT has returned about 25% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of -31.3% on a year-to-date basis. This shows that Harmonic is outperforming its peers so far this year.

Another stock in the Computer and Technology sector, MakeMyTrip (MMYT), has outperformed the sector so far this year. The stock's year-to-date return is 3%.

For MakeMyTrip, the consensus EPS estimate for the current year has increased 55.6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).

Looking more specifically, Harmonic belongs to the Communication - Components industry, which includes 15 individual stocks and currently sits at #35 in the Zacks Industry Rank. This group has lost an average of 14.3% so far this year, so HLIT is performing better in this area.

MakeMyTrip, however, belongs to the Internet - Delivery Services industry. Currently, this 5-stock industry is ranked #35. The industry has moved -6.2% so far this year.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to Harmonic and MakeMyTrip as they could maintain their solid performance.


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Harmonic Inc. (HLIT) : Free Stock Analysis Report
 
MakeMyTrip Limited (MMYT) : Free Stock Analysis Report
 
To read this article on Zacks.com click here.
 
Zacks Investment Research