Investors focused on the Computer and Technology space have likely heard of Lam Research (LRCX - Free Report) , but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
Lam Research is one of 629 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #5 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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. LRCX is currently sporting a Zacks Rank of #2 (Buy).
The Zacks Consensus Estimate for LRCX's full-year earnings has moved 10.81% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that LRCX has returned about 93.80% since the start of the calendar year. In comparison, Computer and Technology companies have returned an average of 28.23%. This means that Lam Research is outperforming the sector as a whole this year.
Breaking things down more, LRCX is a member of the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual companies and currently sits at #3 in the Zacks Industry Rank. This group has gained an average of 80.45% so far this year, so LRCX is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to LRCX as it looks to continue its solid performance.