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Has Lumentum Holdings (LITE) Outpaced Other Computer and Technology Stocks This Year?

Zacks Equity Research
·2 min read

Investors focused on the Computer and Technology space have likely heard of Lumentum Holdings (LITE), but is the stock performing well in comparison to the rest of its sector peers? 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.

Lumentum Holdings is one of 630 companies in the Computer and Technology group. The Computer and Technology group currently sits at #2 within the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.

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. LITE is currently sporting a Zacks Rank of #1 (Strong Buy).

The Zacks Consensus Estimate for LITE's full-year earnings has moved 3.26% higher within the past quarter. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.

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According to our latest data, LITE has moved about 9.10% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 6.18%. This shows that Lumentum Holdings is outperforming its peers so far this year.

Looking more specifically, LITE belongs to the Lasers Systems and Components industry, a group that includes 6 individual stocks and currently sits at #4 in the Zacks Industry Rank. On average, this group has gained an average of 1.60% so far this year, meaning that LITE is performing better in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to LITE as it looks to continue its solid performance.


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Zacks Investment Research