Investors focused on the Computer and Technology space have likely heard of Qorvo (QRVO – Free Report) , but is the stock performing well in comparison to the rest of its sector peers? A quick glance at the company’s year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
Qorvo is one of 626 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #8 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. 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 10.82% higher. This means that analyst sentiment is stronger and the stock’s earnings outlook is improving.
Based on the latest available data, QRVO has gained about 7.23% so far this year. At the same time, Computer and Technology stocks have gained an average of 5.63%. 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 #84 in the Zacks Industry Rank. On average, this group has gained an average of 14.59% so far this year, meaning that QRVO is slightly underperforming its industry in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on QRVO as it attempts to continue its solid performance.