Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Has Astera Labs, Inc. (ALAB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
Astera Labs, Inc. is one of 604 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 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 emphasizes earnings estimates and estimate revisions to find stocks with improving earnings outlooks. This system has a long record of success, and these stocks tend to be on track to beat the market over the next one to three months. Astera Labs, Inc. is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for ALAB's full-year earnings has moved 70.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
According to our latest data, ALAB has moved about 44.6% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 29.5%. This means that Astera Labs, Inc. is performing better than its sector in terms of year-to-date returns.
Another Computer and Technology stock, which has outperformed the sector so far this year, is Allegro MicroSystems, Inc. (ALGM). The stock has returned 32.4% year-to-date.
Over the past three months, Allegro MicroSystems, Inc.'s consensus EPS estimate for the current year has increased 7.8%. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Astera Labs, Inc. belongs to the Internet - Software industry, a group that includes 168 individual stocks and currently sits at #77 in the Zacks Industry Rank. Stocks in this group have gained about 13.9% so far this year, so ALAB is performing better this group in terms of year-to-date returns.
In contrast, Allegro MicroSystems, Inc. falls under the Electronics - Semiconductors industry. Currently, this industry has 45 stocks and is ranked #67. Since the beginning of the year, the industry has moved +47%.
Investors with an interest in Computer and Technology stocks should continue to track Astera Labs, Inc. and Allegro MicroSystems, Inc.. These stocks will be looking to continue their solid performance.
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Astera Labs, Inc. (ALAB): Free Stock Analysis Report Allegro MicroSystems, Inc. (ALGM): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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