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? 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.
Taiwan Semiconductor Manufacturing Company is a member of our Computer and Technology group, which includes 613 different companies and currently sits at #12 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. TSM is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for TSM’s full-year earnings has moved 17.86% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, TSM has gained about 51.12% so far this year. At the same time, Computer and Technology stocks have gained an average of 25.75%. This means that Taiwan Semiconductor Manufacturing Company is performing better than its sector in terms of year-to-date returns.
Breaking things down more, TSM is a member of the Semiconductor – Circuit Foundry industry, which includes 1 individual companies and currently sits at #8 in the Zacks Industry Rank. On average, stocks in this group have gained 52.84% this year, meaning that TSM is slightly underperforming its industry in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to TSM as it looks to continue its solid performance.