On Tuesday, Semtech received an upgrade to its Relative Strength (RS) Rating, from 70 to 77.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the last 52 weeks holds up against all the other stocks in our database.
History reveals that the market's biggest winners tend to have an 80 or higher RS Rating in the early stages of their moves. See if Semtech can continue to rebound and clear that threshold.
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While it's not currently an ideal time to jump in, see if the stock manages to offer and clear an appropriate buy point.
Earnings growth declined last quarter from 1,200% to 0%. But sales moved higher, from 18% to 30%.
Semtech earns the No. 7 rank among its peers in the Electronics-Semiconductor Fabless industry group. Rambus, Broadcom and NVIDIA are among the top 5 highly rated stocks within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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