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Is Qorvo (QRVO) Stock Outpacing Its Computer and Technology Peers This Year?
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The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Qorvo (QRVO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 630 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. QRVO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 12.84% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, QRVO has gained about 71.30% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 28.27% on a year-to-date basis. This means that Qorvo is performing better than its sector in terms of year-to-date returns.
Breaking things down more, QRVO is a member of the Semiconductors - Radio Frequency industry, which includes 4 individual companies and currently sits at #43 in the Zacks Industry Rank. This group has gained an average of 54.45% so far this year, so QRVO is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track QRVO. The stock will be looking to continue its solid performance.
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Is Qorvo (QRVO) Stock Outpacing Its Computer and Technology Peers This Year?
The Computer and Technology group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Qorvo (QRVO - Free Report) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 630 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. QRVO is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 12.84% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the latest available data, QRVO has gained about 71.30% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 28.27% on a year-to-date basis. This means that Qorvo is performing better than its sector in terms of year-to-date returns.
Breaking things down more, QRVO is a member of the Semiconductors - Radio Frequency industry, which includes 4 individual companies and currently sits at #43 in the Zacks Industry Rank. This group has gained an average of 54.45% so far this year, so QRVO is performing better in this area.
Investors with an interest in Computer and Technology stocks should continue to track QRVO. The stock will be looking to continue its solid performance.