Investors focused on the Computer and Technology space have likely heard of Lumentum Holdings (LITE - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Lumentum Holdings is a member of the Computer and Technology sector. This group includes 638 individual stocks and currently holds a Zacks Sector Rank of #9. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. LITE is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for LITE's full-year earnings has moved 4.82% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, LITE has returned 37.40% so far this year. In comparison, Computer and Technology companies have returned an average of 21.99%. This means that Lumentum Holdings is performing better than its sector in terms of year-to-date returns.
Breaking things down more, LITE is a member of the Lasers Systems and Components industry, which includes 6 individual companies and currently sits at #17 in the Zacks Industry Rank. On average, stocks in this group have gained 20.09% this year, meaning that LITE is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track LITE. The stock will be looking to continue its solid performance.