July 25, 2024


Super Technology

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

Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. Qorvo (QRVO) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? 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 a member of our Computer and Technology group, which includes 632 different companies and currently sits at #6 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).

The Zacks Consensus Estimate for QRVO’s full-year earnings has moved 25.02% higher within the past quarter. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Our latest available data shows that QRVO has returned about 8.81% since the start of the calendar year. At the same time, Computer and Technology stocks have gained an average of 5.91%. This means that Qorvo is performing better than its sector in terms of year-to-date returns.

Looking more specifically, QRVO belongs to the Semiconductors – Radio Frequency industry, which includes 5 individual stocks and currently sits at #56 in the Zacks Industry Rank. On average, this group has gained an average of 6.78% so far this year, meaning that QRVO is performing better in terms of year-to-date returns.

Investors with an interest in Computer and Technology stocks should continue to track QRVO. The stock will be looking to continue its solid performance.

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