On Thursday, Tower Semiconductor hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 85 the day before.
IBD's proprietary rating measures market leadership with a 1 (worst) to 99 (best) score. The grade shows how a stock's price performance over the last 52 weeks holds up against all the other stocks in our database.
History shows that the best stocks often have an RS Rating of above 80 in the early stages of their moves.
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Tower Semiconductor has risen more than 5% past a 34.74 entry in a first-stage flat base, meaning it's now out of a proper buy range. Look for the stock to offer a new chance to get in like a three-weeks tight or pullback to the 50-day or 10-week line.
Taking a look at top and bottom line numbers, Tower Semiconductor has posted rising EPS growth over the last three quarters. Sales gains have also risen during the same period.
The company earns the No. 3 rank among its peers in the Electronics-Semiconductor Manufacturing industry group. MACOM Tech Solutions is the top-ranked stock within the group.
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