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Chicago, IL – December 22, 2021 – Zacks.com announces the list of stocks featured on the Analysts Blog. Every day, Zacks Equity Research analysts discuss the latest news and events impacting stocks and financial markets. Recent stocks featured in the blog include: Alpha & Omega Semiconductor Limited AOSL, Axcelis Technologies, Inc. ACLS, Synaptics Incorporated SYNA, Transcat, Inc. TRNS and Perficient, Inc. PRFT.
Here are highlights from Tuesday’s analyst blog:
5 tech stocks that crashed the Nasdaq in 2021
The Nasdaq composite lost 1.24% to close at 14,980.94 on December 20, reflecting growing concerns over the spread of Omicron, new coronavirus-induced lockdowns, new travel restrictions as well as lack of support federal in the short term.
Still, the tech index is up 16.2% year-to-date, according to CNN data. The high-tech index had a scintillating 2020, with a return of 43.6% compared to a return of 35.2% in 2019.
The relatively weak returns on the Nasdaq this year can be attributed to soaring inflation and the Federal Reserve’s tightening of monetary policy. The Federal Reserve is now expected to hike interest rates three times in 2022 to fight inflation.
However, technology stocks continued to gain momentum, mainly benefiting from changing consumer preferences and behaviors. The stay-at-home trend has driven demand for web services such as e-commerce, contactless payment, and delivery.
Companies offering remote work technologies, cloud services and cybersecurity solutions, which support working from home, e-learning and remote health diagnostics, are expected to continue to benefit in the long term.
In addition, improved global semiconductor sales have been a major plus. According to the latest data from The World Semiconductor Trade Statistics (WSTS), the global semiconductor market is expected to grow 25.6% from 2020, driven by strong demand for chips. For 2022, growth is currently projected at 8.8%.
The rapid adoption of cloud computing as well as the continued infusion of AI and machine learning as well as the accelerated deployment of 5G technology, autonomous vehicles, AR / VR and wearables are positive points. major.
Here we select five tech stocks that have outperformed the Nasdaq since the start of the year. In addition to boasting strong fundamentals, these stocks have either a Zacks Rank 1 (strong buy) or a Rank 2 (buy). You can see The full list of today’s Zacks # 1 Rank stocks here.
According to Zacks’ proprietary methodology, stocks with such a perfect mix of elements offer solid investment opportunities.
Best technology stocks
Alpha & Omega SemiconductorShares are up 113.88% year-to-date.
Alpha & Omega designs, develops and markets a wide range of power semiconductor integrated circuits targeting high volume end market applications, such as laptops, netbooks, flat screens, cell phone batteries, set-top boxes, portable media players and power supplies.
Alpha & Omega currently has a Zacks rank of 1. The Zacks consensus estimate for the company’s earnings of $ 1.33 billion for fiscal 2022 is set at $ 4.08 per share, after being revised to up 19.6% in 60 days. For fiscal 2023, the earnings consensus mark moved north 13% to $ 4.11 per share over the same period.
Axcelis Technologies‘Shares have returned 117.07% year-to-date.
Axcelis designs, manufactures and services ion implantation equipment and other processing equipment used to manufacture semiconductor chips.
Axcelis sports a Zacks # 1 ranking and has a market cap of $ 2.11 billion. Zacks’ consensus estimate for its 2021 earnings has risen 8.4% to $ 2.67 per share in the past 60 days. During the same time frame, the consensus mark for 2022 earnings climbed 12.2% to $ 3.41 per share.
Synaptic‘Shares have returned 172.01% year-to-date.
Synaptics is a leader in the design and marketing of human interface solutions such as touchpads for laptops, capacitive touchscreen controllers for handsets and biometric fingerprint sensors for mobile devices.
Synaptics has a Zacks Rank # 2 and a market cap of $ 10.30 billion. The consensus mark for its net income for fiscal 2022 is set at $ 11.21 per share, up 12.1% in the past 60 days. For fiscal 2023, the earnings consensus mark moved north 14.1% to $ 12.45 per share over the same period.
TranscatShares are up 157.24% year-to-date.
Transcat is a leading provider of accredited calibration, repair, inspection and laboratory instrumentation services. It also operates as a leading value-added distributor that sells and leases proprietary branded instruments to customers, primarily in North America.
This $ 670.75 million company currently holds a Zacks Rank # 2. The consensus mark for FY2021 earnings is currently set at $ 1.77 per share, after moving 3% north in the past 60 days. For fiscal 2021, the earnings consensus mark shifted 7.1% north to $ 2.10 per share during the same period.
efficientShares of have returned 155.78% year-to-date.
This digital consulting provider relies on an expanding clientele. Strong demand for Perficient’s global delivery model (40% of delivery resources are offshore) has been a key enabler.
Perficient has a Zacks Rank # 2 and a market cap of $ 4.01 billion. Zacks’ consensus estimate for its 2021 earnings has risen 3% to $ 3.40 per share in the past 60 days. During the same time frame, the consensus mark for 2022 earnings climbed 6% to $ 4.05 per share.
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Past performance is no guarantee of future results. The potential for loss is inherent in any investment. This material is provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold any security. No recommendation or advice is given as to whether an investment is suitable for a particular investor. It should not be assumed that any investment in any identified and described securities, companies, sectors or markets was or will be profitable. All information is current as of the date hereof and is subject to change without notice. The views or opinions expressed may not reflect those of the company as a whole. Zacks Investment Research does not engage in investment banking, market making or securities asset management activities. These returns come from hypothetical portfolios composed of stocks with a Zacks rank = 1 that have been rebalanced monthly without any transaction costs. These are not the returns of actual equity portfolios. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for more information on the performance numbers displayed in this press release.
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Axcelis Technologies, Inc. (ACLS): Free Stock Analysis Report
Synaptics Incorporated (SYNA): Free Inventory Analysis Report
Perficient, Inc. (PRFT): Free Inventory Analysis Report
Transcat, Inc. (TRNS): Free Inventory Analysis Report
Alpha and Omega Semiconductor Limited (AOSL): Free Stock Analysis Report
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.