Semtech had its Relative Strength (RS) Rating upgraded from 61 to 73 Thursday — a welcome improvement, but still below the 80 or better score you look for.
Can You Really Time The Stock Market?
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price action over the last 52 weeks compares to that of the other stocks in our database.
Over 100 years of market history reveals that the best stocks typically have an 80 or higher RS Rating as they launch their biggest climbs. See if Semtech can continue to rebound and hit that benchmark.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock is able to offer and clear a proper buy point.
While earnings growth fell in the company's most recently reported quarter from 1,200% to 0%, the top line grew 30%, up from 18% in the previous report. Keep an eye out for the company's next round of numbers on or around May 27.
Semtech holds the No. 8 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom, NVIDIA and Monolithic Power Systems 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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