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. Is Lam Research (LRCX - Free Report) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.
Lam Research is a member of our Computer and Technology group, which includes 630 different companies and currently sits at #2 in 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. LRCX is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for LRCX's full-year earnings has moved 2.19% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, LRCX has gained about 6.34% so far this year. At the same time, Computer and Technology stocks have gained an average of 5.26%. This shows that Lam Research is outperforming its peers so far this year.
Looking more specifically, LRCX belongs to the Semiconductor Equipment - Wafer Fabrication industry, which includes 4 individual stocks and currently sits at #11 in the Zacks Industry Rank. Stocks in this group have gained about 0.60% so far this year, so LRCX is performing better this group in terms of year-to-date returns.
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.