Is Astera Labs, Inc. (ALAB) Stock Outpacing Its Computer and Technology Peers This Year?

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. Is Astera Labs, Inc. (ALAB) one of those stocks right now? 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.Astera Labs, Inc. is one of 605 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 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 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 67.9% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.According to our latest data, ALAB has moved about 42.8% on a year-to-date basis. Meanwhile, the Computer and Technology sector has returned an average of 14.4% on a year-to-date basis. This means that Astera Labs, Inc. is outperforming the sector as a whole this year.Gilat Satellite (GILT) is another Computer and Technology stock that has outperformed the sector so far this year. Since the beginning of the year, the stock has returned 55.5%.In Gilat Satellite's case, the consensus EPS estimate for the current year increased 78.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy).Breaking things down more, Astera Labs, Inc. is a member of the Internet - Software industry, which includes 173 individual companies and currently sits at #68 in the Zacks Industry Rank. On average, this group has gained an average of 20.5% so far this year, meaning that ALAB is performing better in terms of year-to-date returns. Gilat Satellite, however, belongs to the Satellite and Communication industry. Currently, this 7-stock industry is ranked #15. The industry has moved +62.9% so far this year.Astera Labs, Inc. and Gilat Satellite could continue their solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to these stocks.Zacks Names #1 Semiconductor StockThis under-the-radar company specializes in semiconductor products that titans like NVIDIA don't build. It's uniquely positioned to take advantage of the next growth stage of this market. And it's just beginning to enter the spotlight, which is exactly where you want to be.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $971 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Astera Labs, Inc. (ALAB): Free Stock Analysis Report Gilat Satellite Networks Ltd. (GILT): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks