The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has KLA (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 is a member of the Computer and Technology sector. This group includes 629 individual stocks and currently holds a Zacks Sector Rank of #5. 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 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. KLAC is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for KLAC's full-year earnings has moved 4.02% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, KLAC has returned 99.32% so far this year. At the same time, Computer and Technology stocks have gained an average of 34.24%. As we can see, KLA is performing better than its sector in the calendar year.
To break things down more, KLAC belongs to the Electronics - Miscellaneous Products industry, a group that includes 17 individual companies and currently sits at #77 in the Zacks Industry Rank. On average, this group has gained an average of 54.22% so far this year, meaning that KLAC is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on KLAC as it attempts to continue its solid performance.