Investors focused on the Computer and Technology space have likely heard of Taiwan Semiconductor Manufacturing Company (TSM), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of TSM and the rest of the Computer and Technology group’s stocks.
Taiwan Semiconductor Manufacturing Company is one of 606 companies in the Computer and Technology group. The Computer and Technology group currently sits at #11 within the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
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 book profits earnings estimate revisions and favors companies with improving earnings outlooks. TSM is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for TSM’s full-year earnings has moved 14% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.
Our latest available data shows that TSM has returned about 17.95% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 17.81% on average. This means that Taiwan Semiconductor Manufacturing Company is performing better than its sector in terms of year-to-date returns.
To break things down more, TSM belongs to the Semiconductor – Circuit Foundry industry, a group that includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. This group has gained an average of 19.09% so far this year, so TSM is slightly underperforming its industry in this area.
Investors with an interest in Computer and Technology stocks should continue to track TSM. The stock will be looking to continue its solid performance.
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