On Wednesday, Semtech cleared an important performance benchmark, with its Relative Strength (RS) Rating climbing into the 90-plus percentile with an upgrade to 92, up from 88 the day before.
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This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The score shows how a stock's price behavior over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the best-performing stocks typically have an 80 or higher RS Rating as they begin their biggest price moves.
While Semtech is not near an ideal buy point right now, see if it goes on to form and break out from a proper base.
The company posted 273% earnings growth in the latest quarterly report. Sales gains came in at 20%.
The company earns the No. 8 rank among its peers in the Electronics-Semiconductor Fabless industry group. Astera Labs, Broadcom and Credo Tech Group are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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