April 22, 2024


Super Technology

Is KLA (KLAC) Stock Outpacing Its Computer and Technology Peers This Year?

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is KLA (KLAC) 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.

KLA is a member of the Computer and Technology sector. This group includes 615 individual stocks and currently holds a Zacks Sector Rank of #7. 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 90 days, the Zacks Consensus Estimate for KLAC’s full-year earnings has moved 9.29% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, KLAC has returned 31.06% so far this year. At the same time, Computer and Technology stocks have gained an average of 31.05%. This shows that KLA is outperforming its peers so far this 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 #128 in the Zacks Industry Rank. This group has gained an average of 8.14% 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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