Theme by The WP Club . Proudly powered by WordPress
Investors focused on the Computer and Technology space have likely heard of Qorvo (QRVO), 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 QRVO and the rest of the Computer and Technology group’s stocks.
Qorvo is one of 603 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. QRVO is currently sporting a Zacks Rank of #2 (Buy).
Over the past 90 days, the Zacks Consensus Estimate for QRVO’s full-year earnings has moved 29.33% higher. This signals that analyst sentiment is improving and the stock’s earnings outlook is more positive.
Based on the most recent data, QRVO has returned 5.79% so far this year. At the same time, Computer and Technology stocks have gained an average of 20.54%. This means that Qorvo is outperforming the sector as a whole this year.
To break things down more, QRVO belongs to the Semiconductors – Radio Frequency industry, a group that includes 5 individual companies and currently sits at #122 in the Zacks Industry Rank. Stocks in this group have gained about 2.29% so far this year, so QRVO is performing better this group in terms of year-to-date returns.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to QRVO as it looks to continue its solid performance.
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
Qorvo, Inc. (QRVO) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.