Has Qorvo (QRVO) Outpaced Other Computer and Technology Stocks This Year?
Investors focused on the Computer and Technology space have likely heard of Qorvo (QRVO), but is the stock performing well in comparison to the rest of its sector peers? One simple way to answer this question is to take a look at the year-to-date performance of QRVO and the rest of the Computer and Technology group's stocks.
Qorvo is one of 630 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #6 in the Zacks Sector Rank. The Zacks Sector Rank includes 16 different groups and is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors.
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 #1 (Strong Buy).
Over the past 90 days, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 12.84% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, QRVO has moved about 92.11% on a year-to-date basis. In comparison, Computer and Technology companies have returned an average of 34.03%. This shows that Qorvo is outperforming its peers so far this year.
Looking more specifically, QRVO belongs to the Semiconductors - Radio Frequency industry, a group that includes 4 individual stocks and currently sits at #17 in the Zacks Industry Rank. This group has gained an average of 80.09% so far this year, so QRVO is performing better in this area.
Investors in the Computer and Technology sector will want to keep a close eye on QRVO as it attempts to continue its solid performance.
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