Semtech had its Relative Strength (RS) Rating upgraded from 76 to 86 Wednesday.
Hone Your Stock-Picking Skills By Focusing On These Factors
IBD's proprietary RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of at least 80 as they begin their biggest runs.
Semtech is not currently showing a potential buy point. See if the stock goes on to form a base that could launch a new move.
While the company's top line growth fell last quarter from 30% to 22%, the bottom line grew 533%, up from 0% in the previous report.
Semtech holds the No. 9 rank among its peers in the Electronics-Semiconductor Fabless industry group. Broadcom, Rambus 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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