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For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has Camtek (CAMT) been one of those stocks this year? 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.
Camtek is one of 607 companies in the Computer and Technology group. The Computer and Technology group currently sits at #5 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 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. Camtek is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for CAMT's full-year earnings has moved 0.4% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the most recent data, CAMT has returned 7.5% so far this year. In comparison, Computer and Technology companies have returned an average of 3%. This means that Camtek is performing better than its sector in terms of year-to-date returns.
One other Computer and Technology stock that has outperformed the sector so far this year is KLA (KLAC). The stock is up 19.1% year-to-date.
The consensus estimate for KLA's current year EPS has increased 2.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
Looking more specifically, Camtek belongs to the Electronics - Measuring Instruments industry, a group that includes 5 individual stocks and currently sits at #27 in the Zacks Industry Rank. This group has gained an average of 12.6% so far this year, so CAMT is slightly underperforming its industry in this area.
In contrast, KLA falls under the Electronics - Miscellaneous Products industry. Currently, this industry has 36 stocks and is ranked #142. Since the beginning of the year, the industry has moved +4.7%.
Investors interested in the Computer and Technology sector may want to keep a close eye on Camtek and KLA as they attempt to continue their solid performance.
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