For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has KLA-Tencor (KLAC - Free Report) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
KLA-Tencor is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. 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 model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. KLAC is currently sporting a Zacks Rank of #2 (Buy).
Over the past three months, the Zacks Consensus Estimate for KLAC's full-year earnings has moved 3.84% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that KLAC has returned about 92.14% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 27.78%. This means that KLA-Tencor is performing better than its sector in terms of year-to-date returns.
To break things down more, KLAC belongs to the Electronics - Miscellaneous Products industry, a group that includes 17 individual companies and currently sits at #62 in the Zacks Industry Rank. Stocks in this group have gained about 45.61% so far this year, so KLAC is performing better this group in terms of year-to-date returns.
KLAC will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.