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. Has Lam Research (LRCX) been one of those stocks this year? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Lam Research is a member of our Computer and Technology group, which includes 623 different companies and currently sits at #12 in the Zacks Sector Rank. 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 proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the 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 10.79% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
According to our latest data, LRCX has moved about 36.30% on a year-to-date basis. Meanwhile, stocks in the Computer and Technology group have gained about 13.32% on average. As we can see, Lam Research is performing better than its sector in the calendar year.
Looking more specifically, LRCX belongs to the Semiconductor Equipment – Wafer Fabrication industry, which includes 4 individual stocks and currently sits at #15 in the Zacks Industry Rank. On average, stocks in this group have gained 34.39% this year, meaning that LRCX 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 LRCX as it attempts to continue its solid performance.
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