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Is Qorvo (QRVO) Stock Outpacing Its Computer and Technology Peers This Year?
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Investors focused on the Computer and Technology space have likely heard of Qorvo (QRVO - Free Report) , 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 616 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in 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).
Over the past three months, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 35.49% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that QRVO has returned about 34.80% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 34.79% on a year-to-date basis. This shows that Qorvo is outperforming its peers so far 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 #51 in the Zacks Industry Rank. On average, stocks in this group have gained 14.52% this year, meaning that QRVO is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on QRVO as it attempts to continue its solid performance.
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Is Qorvo (QRVO) Stock Outpacing Its Computer and Technology Peers This Year?
Investors focused on the Computer and Technology space have likely heard of Qorvo (QRVO - Free Report) , 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 616 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in 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).
Over the past three months, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 35.49% higher. This shows that analyst sentiment has improved and the company's earnings outlook is stronger.
Our latest available data shows that QRVO has returned about 34.80% since the start of the calendar year. Meanwhile, the Computer and Technology sector has returned an average of 34.79% on a year-to-date basis. This shows that Qorvo is outperforming its peers so far 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 #51 in the Zacks Industry Rank. On average, stocks in this group have gained 14.52% this year, meaning that QRVO is performing better in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on QRVO as it attempts to continue its solid performance.