The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has Lumentum Holdings (LITE) 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.
Lumentum Holdings is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #6 within 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 successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. LITE is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for LITE's full-year earnings has moved 8.57% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, LITE has returned 3.71% so far this year. Meanwhile, stocks in the Computer and Technology group have gained about 0.66% on average. As we can see, Lumentum Holdings is performing better than its sector in the calendar year.
Breaking things down more, LITE is a member of the Lasers Systems and Components industry, which includes 6 individual companies and currently sits at #72 in the Zacks Industry Rank. On average, stocks in this group have lost 5.17% this year, meaning that LITE is performing better in terms of year-to-date returns.
LITE will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.
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