Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has KLA (KLAC) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
KLA is a member of our Computer and Technology group, which includes 594 different companies and currently sits at #2 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 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. KLA 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 1.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Our latest available data shows that KLAC has returned about 43.3% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 14.8% on a year-to-date basis. This means that KLA is outperforming the sector as a whole this year.
Another stock in the Computer and Technology sector, Arrow Electronics (ARW), has outperformed the sector so far this year. The stock's year-to-date return is 87.2%.
Over the past three months, Arrow Electronics' consensus EPS estimate for the current year has increased 37.4%. The stock currently has a Zacks Rank #1 (Strong Buy).
Looking more specifically, KLA belongs to the Electronics - Miscellaneous Products industry, which includes 33 individual stocks and currently sits at #69 in the Zacks Industry Rank. Stocks in this group have gained about 32.2% so far this year, so KLAC is performing better this group in terms of year-to-date returns.
In contrast, Arrow Electronics falls under the Electronics - Parts Distribution industry. Currently, this industry has 4 stocks and is ranked #8. Since the beginning of the year, the industry has moved +56.7%.
Investors interested in the Computer and Technology sector may want to keep a close eye on KLA and Arrow Electronics as they attempt to continue their solid performance.
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KLA Corporation (KLAC): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).