July 16, 2024

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Is KLA (KLAC) Outperforming Other Computer and Technology Stocks This Year?

Is KLA (KLAC) Outperforming Other Computer and Technology Stocks This Year?

Investors focused on the Computer and Technology space have likely heard of KLA (KLAC), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of KLAC and the rest of the Computer and Technology group’s stocks.

KLA is one of 606 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. 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 3.51% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the latest available data, KLAC has gained about 9.52% so far this year. At the same time, Computer and Technology stocks have gained an average of 16.64%. This means that KLA is performing better than its sector in terms of year-to-date returns.

Looking more specifically, KLAC belongs to the Electronics – Miscellaneous Products industry, which includes 17 individual stocks and currently sits at #118 in the Zacks Industry Rank. This group has lost an average of 4.27% so far this year, so KLAC is performing better in this area.

Investors with an interest in Computer and Technology stocks should continue to track KLAC. The stock will be looking to continue its solid performance.

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