Qorvo had its Relative Strength (RS) Rating upgraded from 61 to 71 Friday — a welcome improvement, but still short of the 80 or higher score you prefer to see.
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This exclusive rating from Investor's Business Daily measures market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks compares to all the other stocks in our database.
History reveals that the best stocks tend to have an RS Rating north of 80 as they launch their biggest climbs. See if Qorvo can continue to show renewed price strength 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 goes on to offer and clear a proper buy point.
Regarding fundamentals, the company has posted rising EPS growth over the last two quarters. Revenue growth has been less impressive, coming in at -8% in the latest report. Qorvo is expected to report its next quarterly numbers on or around Oct. 29.
The company earns the No. 16 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. Taiwan Semiconductor ADR, Everspin Technologies and MACOM Tech Solutions 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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