Are Technology and Computer Shares Underperforming Advantest (ATEYY) in the Current Year?

Advantest Corp. and Fastly: How They Stack Up in the Tech Sector

The Computer and Technology sector features many high-performing stocks, but it's important for investors to identify those that are outpacing their competitors. Is Advantest Corp. (ATEYY) currently one of the top contenders? Let’s review its performance so far this year.

Advantest Corp. belongs to the Computer and Technology sector, which is made up of 608 companies and is ranked sixth according to the Zacks Sector Rank. This ranking system evaluates 16 sectors by averaging the Zacks Rank of their constituent stocks, ordering them from strongest to weakest.

The Zacks Rank is a well-established tool that focuses on earnings forecasts and revisions, helping investors pinpoint stocks with the potential to outperform the market in the short term. At present, Advantest Corp. holds a Zacks Rank of #1 (Strong Buy).

In the last three months, analyst consensus for ATEYY’s full-year earnings has increased by 12.2%, reflecting growing optimism and a positive outlook for the company’s financial performance.

So far this year, ATEYY has delivered a return of 28.9%. By comparison, the average return for Computer and Technology stocks is -3.4%, indicating that Advantest Corp. is significantly outperforming its sector peers in 2024.

Fastly’s Standout Performance

Another notable stock in the sector is Fastly (FSLY), which has also surpassed the sector’s average. Since the start of the year, Fastly has achieved a remarkable return of 107.6%.

For Fastly, the consensus estimate for its current-year earnings per share has climbed 23% over the past quarter. The stock currently carries a Zacks Rank of #2 (Buy).

Industry Breakdown

Advantest Corp. operates within the Electronics – Measuring Instruments industry, which includes five companies and holds the 19th spot in the Zacks Industry Rank. This group has gained an average of 49.8% year-to-date, meaning ATEYY is trailing its industry’s average performance.

In contrast, Fastly is part of the Internet – Software industry, which consists of 173 companies and is ranked 141st. This industry has seen a decline of 11.9% since the beginning of the year.

Investors interested in the Computer and Technology sector may want to monitor both Advantest Corp. and Fastly as they continue to deliver strong results.

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