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Has Qorvo (QRVO) Outpaced Other Computer and Technology Stocks This Year?

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·2 min read
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Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Is Qorvo (QRVO) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Computer and Technology peers, we might be able to answer that question.

Qorvo is a member of our Computer and Technology group, which includes 620 different companies and currently sits at #10 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.

The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. QRVO is currently sporting a Zacks Rank of #2 (Buy).

Within the past quarter, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 3.56% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the most recent data, QRVO has returned 20.01% so far this year. At the same time, Computer and Technology stocks have gained an average of 15.32%. This means that Qorvo is performing better than its sector in terms of year-to-date returns.

Breaking things down more, QRVO is a member of the Semiconductors - Radio Frequency industry, which includes 5 individual companies and currently sits at #193 in the Zacks Industry Rank. On average, stocks in this group have gained 23.42% this year, meaning that QRVO is slightly underperforming its industry in terms of year-to-date returns.

Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to QRVO as it looks to continue its solid performance.


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