One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Semtech cleared that benchmark Thursday, with a jump from 69 to 83 Thursday.
This unique rating measures technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the best-performing stocks typically have an 80 or better RS Rating in the early stages of their moves.
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Now is not an ideal time to jump in since it isn't near a proper buy zone, but see if the stock goes on to form a chart pattern and break out.
Earnings growth dropped last quarter from 1,200% to 0%. But sales moved higher, from 18% to 30%.
The company earns the No. 5 rank among its peers in the Electronics-Semiconductor Fabless industry group. Rambus is the No. 1-ranked stock 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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