On Thursday, Semtech earned an upgrade to its Relative Strength (RS) Rating, from 65 to 75.
Can You Really Time The Stock Market?
IBD's proprietary RS Rating tracks technical performance by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the last 52 weeks stacks up against all the other stocks in our database.
Decades of market research shows that the best stocks typically have an RS Rating of above 80 as they launch their biggest runs. See if Semtech can continue to rebound and clear that threshold.
Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to establish and enter a buying range in heavy volume.
While the company's top line growth fell last quarter from 30% to 22%, earnings-per-share grew 533%, up from 0% in the previous report.
The company earns the No. 11 rank among its peers in the Electronics-Semiconductor Fabless industry group. Arm Holdings ADR, Broadcom and NVIDIA 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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