May 19, 2024

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Is KLA (KLAC) Stock Outpacing Its Computer and Technology Peers 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 a member of our Computer and Technology group, which includes 648 different companies and currently sits at #8 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.

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).

The Zacks Consensus Estimate for KLAC’s full-year earnings has moved 9.82% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the most recent data, KLAC has returned 46.87% so far this year. In comparison, Computer and Technology companies have returned an average of 25.30%. This means that KLA is performing better than its sector in terms of year-to-date returns.

Breaking things down more, KLAC is a member of the Electronics – Miscellaneous Products industry, which includes 23 individual companies and currently sits at #45 in the Zacks Industry Rank. This group has gained an average of 15.48% 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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