Australia markets closed
  • ALL ORDS

    7,771.80
    +43.30 (+0.56%)
     
  • ASX 200

    7,558.10
    +46.50 (+0.62%)
     
  • AUD/USD

    0.6924
    -0.0157 (-2.22%)
     
  • OIL

    73.23
    -2.65 (-3.49%)
     
  • GOLD

    1,877.70
    -53.10 (-2.75%)
     
  • BTC-AUD

    33,881.12
    -292.05 (-0.85%)
     
  • CMC Crypto 200

    535.42
    -1.43 (-0.27%)
     
  • AUD/EUR

    0.6411
    -0.0074 (-1.14%)
     
  • AUD/NZD

    1.0935
    +0.0005 (+0.05%)
     
  • NZX 50

    12,197.15
    +44.99 (+0.37%)
     
  • NASDAQ

    12,573.36
    -229.78 (-1.79%)
     
  • FTSE

    7,901.80
    +81.64 (+1.04%)
     
  • Dow Jones

    33,926.01
    -127.93 (-0.38%)
     
  • DAX

    15,476.43
    -32.76 (-0.21%)
     
  • Hang Seng

    21,660.47
    -297.89 (-1.36%)
     
  • NIKKEI 225

    27,509.46
    +107.41 (+0.39%)
     

Is Fabrinet (FN) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Fabrinet (FN) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.

Fabrinet is a member of the Computer and Technology sector. This group includes 653 individual stocks and currently holds a Zacks Sector Rank of #4. 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Fabrinet is currently sporting a Zacks Rank of #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for FN's full-year earnings has moved 9.4% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.

Our latest available data shows that FN has returned about 9.3% since the start of the calendar year. At the same time, Computer and Technology stocks have lost an average of 30.5%. This means that Fabrinet is performing better than its sector in terms of year-to-date returns.

Another Computer and Technology stock, which has outperformed the sector so far this year, is Plexus (PLXS). The stock has returned 11.6% year-to-date.

For Plexus, the consensus EPS estimate for the current year has increased 9% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Looking more specifically, Fabrinet belongs to the Electronics - Miscellaneous Components industry, a group that includes 28 individual stocks and currently sits at #165 in the Zacks Industry Rank. On average, stocks in this group have lost 24.5% this year, meaning that FN is performing better in terms of year-to-date returns.

Plexus, however, belongs to the Electronics - Manufacturing Services industry. Currently, this 5-stock industry is ranked #1. The industry has moved +10.5% so far this year.

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

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

Fabrinet (FN) : Free Stock Analysis Report

Plexus Corp. (PLXS) : Free Stock Analysis Report

To read this article on Zacks.com click here.

Zacks Investment Research