Take Advantage of the Pullback and Buy These 3 Tech Stocks

Take Advantage of the Pullback and Buy These 3 Tech Stocks

Posted On September 28, 2021 1:31 pm

From September 2nd through September 21st, the S&P 500 fell 3.6%. While that may not seem like much, remember that the S&P 500 is a broad-based index. Many stocks saw losses that were even higher. Some of the concerns hanging over the market include a potential debt crisis in China as Evergrande Group could potentially default.

Other concerns are the Delta variant’s effect on the economic recovery. In a survey released today, we learned that “Business economists are marking down their forecasts for US growth this year.” We also have to contend with worries over a failure to raise the debt ceiling. While there is still bearish sentiment, this provides an opportunity to buy stocks on a pullback.

While cases are still high, it looks like the Delta variant may be peaking. So, while economic predictions are down for 2021, business growth should accelerate next year. That’s why investors should consider investing in technology stocks that saw losses recently. I screened for stocks rated a Buy or higher in our POWR Ratings system that saw recent losses. Qorvo, Inc. (QRVO – Get Rating), PTC Inc. (PTC – Get Rating), and Avnet, Inc. (AVT – Get Rating) are three intriguing choices from my screen.

Qorvo, Inc. (QRVO – Get Rating)

QRVO represents the combined entity of RF Micro Devices and TriQuint Semiconductor, which merged in January 2015. It is a leading provider of core technologies and radio frequency (RF) solutions for mobile, infrastructure, and aerospace/defense applications.

The company specializes in power amplifiers, radio frequency filters, and front-end modules used in many of the world’s smartphones. It also has a suite of products sold into a variety of non-smartphone end markets. This includes cable TV and networking equipment, wireless base stations, and infrastructure and military applications.

The company is seeing high demand for its highly integrated 5G solutions. The accelerated deployment of 5G and the roll-out of Wi-Fi 6 and 6E technologies favor the company’s prospects. So far, QRVI has participated in many 5G field trials and demonstrations. An expanding portfolio enabling 5G deployment bodes well for long-term growth.

In addition, its ultra wideband technology aids growth as it is considered accurate and reliable with traditional technologies such as Wi-Fi, BLE, and NFC. QRVO has an overall grade of A, which translates into a Strong Buy rating in our POWR Ratings system. The company has a Growth Grade of B, which makes sense as earnings per share were up 142.4% over the past year.

Plus, analysts forecast earnings to rise 33.7% year over year in the current quarter. QRVO also has a Quality Grade of A. The company has a current ratio of 3.4, which indicates it has more than enough liquidity. It also has a low debt-to-equity ratio of 0.4. We also provide Value, Momentum, Stability, and Sentiment grades for QRVO, which you can find here.

QRVO is ranked #11 in the B-rated Semiconductor & Wireless Chip industry. For more top stocks in this highly rated industry, click here. Since August 3rd, its stock is down 10%, making this an excellent opportunity to buy on the dip.

Click here to check out our Semiconductor Industry Report for 2021

PTC Inc. (PTC – Get Rating

PTC offers high-end computer-assisted design (Creo) and product lifecycle management (Windchill) software, as well as Internet of Things and AR industrial solutions. Creo is the company’s flagship 3D CAD product. It offers design engineers with assembly design, design flexibility, and virtual prototyping design capabilities.

Windchill is the company’s primary PLM product. The software offers a unified repository for comprehensive product information. Windchill also offers…

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