Is Identiv (INVE) Outperforming Other Computer and Technology Stocks This Year?

The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Is Identiv, Inc. (INVE) one of those stocks right now? Let's take a closer look at the stock's year-to-date performance to find out.

Identiv, Inc. is a member of the Computer and Technology sector. This group includes 606 individual stocks and currently holds a Zacks Sector Rank of #1. 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. Identiv, Inc. is currently sporting a Zacks Rank of #2 (Buy).

Over the past 90 days, the Zacks Consensus Estimate for INVE's full-year earnings has moved 17.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.

Based on the latest available data, INVE has gained about 2.3% so far this year. Meanwhile, stocks in the Computer and Technology group have lost about 5.6% on average. This shows that Identiv, Inc. is outperforming its peers so far this year.

One other Computer and Technology stock that has outperformed the sector so far this year is Micron (MU). The stock is up 33.9% year-to-date.

For Micron, the consensus EPS estimate for the current year has increased 73.3% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).

Breaking things down more, Identiv, Inc. is a member of the Computer - Peripheral Equipment industry, which includes 5 individual companies and currently sits at #98 in the Zacks Industry Rank. Stocks in this group have lost about 5.9% so far this year, so INVE is performing better this group in terms of year-to-date returns.

On the other hand, Micron belongs to the Computer - Integrated Systems industry. This 9-stock industry is currently ranked #31. The industry has moved +8.8% year to date.

Investors with an interest in Computer and Technology stocks should continue to track Identiv, Inc. and Micron. These stocks will be looking to continue their solid performance.

Zacks Names #1 Semiconductor Stock

This under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.

With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.

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This article originally published on Zacks Investment Research (zacks.com).

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