Is Axcelis Technologies (ACLS) Stock Outpacing Its Computer and Technology Peers This Year?

For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Axcelis Technologies (ACLS) been one of those stocks this year? 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.

Axcelis Technologies is one of 661 companies in the Computer and Technology group. The Computer and Technology group currently sits at #7 within the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.

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. Axcelis Technologies is currently sporting a Zacks Rank of #1 (Strong Buy).

Over the past 90 days, the Zacks Consensus Estimate for ACLS' full-year earnings has moved 6.7% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

According to our latest data, ACLS has moved about 9.6% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of -22.4%. This means that Axcelis Technologies is performing better than its sector in terms of year-to-date returns.

Another stock in the Computer and Technology sector, Palo Alto Networks (PANW), has outperformed the sector so far this year. The stock's year-to-date return is 3.4%.

Over the past three months, Palo Alto Networks' consensus EPS estimate for the current year has increased 106.6%. The stock currently has a Zacks Rank #2 (Buy).

Breaking things down more, Axcelis Technologies is a member of the Electronics - Manufacturing Machinery industry, which includes 9 individual companies and currently sits at #172 in the Zacks Industry Rank. On average, stocks in this group have lost 23.7% this year, meaning that ACLS is performing better in terms of year-to-date returns.

Palo Alto Networks, however, belongs to the Security industry. Currently, this 8-stock industry is ranked #53. The industry has moved -9.5% so far this year.

Investors interested in the Computer and Technology sector may want to keep a close eye on Axcelis Technologies and Palo Alto Networks as they attempt to continue their solid performance.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.