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Is Qorvo (QRVO) Outperforming Other Computer and Technology Stocks This Year?

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Zacks Equity Research
·2 min read
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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? 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 623 different companies and currently sits at #9 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 #2 (Buy).

Over the past three months, the Zacks Consensus Estimate for QRVO's full-year earnings has moved 13.19% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend.

Based on the latest available data, QRVO has gained about 15.81% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 14.27% on a year-to-date basis. As we can see, Qorvo is performing better than its sector in the calendar year.

Breaking things down more, QRVO is a member of the Semiconductors - Radio Frequency industry, which includes 5 individual companies and currently sits at #109 in the Zacks Industry Rank. On average, stocks in this group have gained 18.58% 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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