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? One simple way to answer this question is to take a look at the year-to-date performance of LITE and the rest of the Computer and Technology group's stocks.
Lumentum Holdings is one of 647 companies in the Computer and Technology group. The Computer and Technology group currently sits at #3 within the Zacks Sector Rank. 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 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 #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for LITE's full-year earnings has moved 0.16% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
According to our latest data, LITE has moved about 7.95% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 2.50%. This means that Lumentum Holdings is performing better than its sector in terms of year-to-date returns.
Looking more specifically, LITE belongs to the Lasers Systems and Components industry, which includes 7 individual stocks and currently sits at #112 in the Zacks Industry Rank. This group has gained an average of 9.12% so far this year, so LITE is slightly underperforming its industry in this area.
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.