For Immediate Release
Chicago, IL – December 30, 2016 – Zacks.com announces the list of stocks featured in the Analyst Blog. Every day the Zacks Equity Research analysts discuss the latest news and events impacting stocks and the financial markets. Stocks recently featured in the blog include Alpha and Omega Semiconductor Limited (NASDAQ:AOSL –Free Report),Coherent Inc. (NASDAQ:COHR –Free Report),Finisar Corporation (NASDAQ:FNSR –Free Report),KEMET Corporation (NYSE:KEM –Free Report) and TTM Technologies Inc. (NASDAQ:TTMI – Free Report).
Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1Stock of the Day pick for free.
Here are highlights from Thursday’s Analyst Blog:
5 Tech Stocks that Doubles in 2016 and Still Have Potential
After a highly volatile first half, the stock market is poised to end 2016 on a solid note. A rebounding U.S. economy as evident from the recently released improved economic data for GDP, and a favorable Consumer Confidence Index, unemployment rate and factory activity data have all contributed to the recovery.
2016 Market Performance
In the year-to-date (YTD) period, Dow Jones Industrial Average (DJI), NASDAQ Composite (IXIC) and S&P 500 (GSPC) gained 13.8%, 8.6% and 10.1%, respectively.
The technology sector continued to perform well with Technology Select Sector SPDR ETF (XLK) registering a year-to-date return of 13.7%.
Launched in Dec 1998, XLK is a passively managed fund designed to deliver the returns of the U.S. technology stocks. The fund, before expenses, is expected to remain on par with the returns and characteristics of the S&P Technology Select Sector Index.
Tech Stocks Poised for Further Growth
The technology sector is likely to grow further in 2017, as evident from the recent forecast provided by Gartner on worldwide IT spending. The latest report from the independent research firm projects global IT spending to reach $3.5 trillion next year, representing an increase of 2.9% from $3.4 trillion anticipated in 2016.
The technology space continues to be investors’ favorite due to its dynamic nature. It is expected to grow faster than ever before as evident from Gartner’s latest forecasts as well as improving U.S. economic data. Therefore, if you invest right, you can reap the benefits over time.
Right now, the technology sector has several promising stocks to choose from. Here we have picked five tech stocks that have more than doubled so far this year and have the potential to keep the momentum going in the next year. They also have a favorable Zacks Rank #1 (Strong Buy) or #2 (Buy), a VGM Style Score of “A” or “B,” and high earnings growth rate projections than the industry average.
Alpha and Omega Semiconductor Limited (NASDAQ:AOSL – Free Report) is engaged in designing, developing and supplying a broad range of power semiconductors globally, including a portfolio of Power MOSFET and Power IC products. The company has a VGM Style Score of “A.” Moreover, Alpha and Omega Semiconductor’s earnings growth rate projections for fiscal 2017 and 2018 are much higher than the Zacks categorized Computer and Technology sector’s average estimated growth rates.
Year-to-date, the company has gained 138.6% compared with the Zacks categorized Computer and Technology’s average return of 9.8% over the same time frame. The stock carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here .
Coherent Inc. (NASDAQ:COHR – Free Report) designs, manufactures, and supplies electro-optical systems and medical instruments utilizing laser, precision optic and microelectronic technologies. The stock carries a Zacks Rank #1 and has a VGM Style Score of “B.” Moreover, Coherent’s earnings growth rate projection for fiscal 2017 is much higher than Zacks categorized Computer and Technology sector’s average estimated growth rate. Year-to-date, the company has gained 108.9%.
Finisar Corporation (NASDAQ:FNSR – Free Report) is a provider of fiber optic subsystems and network test and monitoring systems, which enable high-speed data communications over local area networks or LANs, storage area networks or SANs, and metropolitan access networks or MANs. The stock carries a Zacks Rank #1 and has a VGM Style Score of “A.” Moreover, Finisar’s earnings growth rate projections for fiscal 2017 and 2018 are much higher than the Zacks categorized Computer and Technology sector’s average estimated growth rates. Year-to-date, the company has gained 109.1%.
KEMET Corporation (NYSE:KEM – Free Report) along with its subsidiaries is the world's largest manufacturer of solid tantalum capacitors and one of the world's largest manufacturers of multilayer ceramic capacitors. The stock carries a Zacks Rank #1 and has a VGM Style Score of “A.” Moreover, KEMET’s earnings growth rate projections for fiscal 2017 and 2018 are much higher than the Zacks categorized Computer and Technology sector’s average estimated growth rates. Year-to-date, the company has gained 184.9%.
TTM Technologies Inc. (NASDAQ:TTMI – Free Report) provides time-critical, one-stop manufacturing services for highly complex printed circuit boards. Its printed circuit boards serve as the foundation of electronic products such as routers, switches, computer memory modules and communications infrastructure equipment. The stock carries a Zacks Rank #2 and has a VGM Style Score of “A.” Moreover, TTM’s earnings growth rate projection for fiscal 2017 is much higher than the Zacks categorized Computer and Technology sector’s average estimated growth rate. Year-to-date, the company has gained 112.6%.
Technology companies will continue to transform our world with each passing year. So, if you don’t want to be left behind, make sure you’re investing in quality tech stocks.
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Today, Zacks is promoting its ''Buy'' stock recommendations. Get #1 Stock of the Day pick for free.
About Zacks Equity Research
Zacks Equity Research provides the best of quantitative and qualitative analysis to help investors know what stocks to buy and which to sell for the long-term.
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Strong Stocks that Should Be in the News
Many are little publicized and fly under the Wall Street radar. They're virtually unknown to the general public. Yet today's 220 Zacks Rank #1 "Strong Buys" were generated by the stock-picking system that has nearly tripled the market from 1988 through 2015. Its average gain has been a stellar +26% per year. See these high-potential stocks free >>.
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ALPHA&OMEGA SEM (AOSL): Free Stock Analysis Report
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KEMET CORP (KEM): Free Stock Analysis Report
TTM TECHNOLOGIE (TTMI): Free Stock Analysis Report
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