April 15, 2024


It's the Technology

Is Qorvo (QRVO) Stock Outpacing Its Computer and Technology Peers 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 a member of the Computer and Technology sector. This group includes 604 individual stocks and currently holds a Zacks Sector Rank of #5. 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 21.51% higher. This shows that analyst sentiment has improved and the company’s earnings outlook is stronger.

Based on the latest available data, QRVO has gained about 9.39% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 28.37% on a year-to-date basis. This means that Qorvo is outperforming the sector as a whole this year.

Looking more specifically, QRVO belongs to the Semiconductors – Radio Frequency industry, a group that includes 5 individual stocks and currently sits at #122 in the Zacks Industry Rank. On average, stocks in this group have gained 5.49% this year, meaning that QRVO is performing better in terms of year-to-date returns.

QRVO will likely be looking to continue its solid performance, so investors interested in Computer and Technology stocks should continue to pay close attention to the company.

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Qorvo, Inc. (QRVO) : Free Stock Analysis Report
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