Investors focused on the Computer and Technology space have likely heard of Micron Technology (MU - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of MU and the rest of the Computer and Technology group's stocks.
Micron Technology is one of 627 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. 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 is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MU is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for MU's full-year earnings has moved 6.64% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that MU has returned about 28.43% since the start of the calendar year. Meanwhile, stocks in the Computer and Technology group have gained about 10.11% on average. As we can see, Micron Technology is performing better than its sector in the calendar year.
Breaking things down more, MU is a member of the Semiconductor Memory industry, which includes 1 individual companies and currently sits at #1 in the Zacks Industry Rank. On average, this group has gained an average of 28.43% so far this year, meaning that MU is performing on par in terms of year-to-date returns.
MU will likely be looking to continue its solid performance, so investors interested Computer and Technology stocks should continue to pay close attention to the company.