Three Growth Stocks Hold Up In Wobbly Stock Market

The IBD Sector Leaders list was sparsely populated Friday, but the three growth stocks still on the elite screen are worth noting.

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A breakout Wednesday took Lantheus (LNTH) above its 75.20 buy point from a cup-with-handle base. The growth stock rose nearly 4% in strong volume as it broke out. Shares have slipped and were a bit below the entry Friday.

Its Composite Rating sits at 95 while its Relative Strength Rating is also a robust 92. Fund ownership has been increasing over the past eight quarters according to IBD MarketSmith. As a matter of fact, 67% of shares outstanding are in funds.

Fourth-quarter sales soared 103% to $263.2 million while earnings per share of $1.37 were up a whopping 448%.

Lantheus holds first place in the medical products industry group. The Bedford, Mass.-based company makes diagnostic and therapeutic products for heart ailments, cancer and other diseases.

Arista Networks (ANET) is another name that stands tall in the storm.

Fourth-quarter sales grew 55% to $1.2 billion while earnings per share of $1.41 increased 72% year over year. The growth stock’s Composite Rating is a perfect 99 and Relative Strength Rating is also a strong 93.

Arista broke out of a cup base with a buy point of 140.91 in strong volume and is now extended. But an alternative entry at 145.27 also exists. The relative strength line is at new highs.

Arista Networks leads the computer networking group, which has fallen to 118th place. The Santa Clara, Calif.-based company makes cloud networking products.

Growth Stock Leads Strong Group

Super Micro Computer (SMCI) also boasts a perfect Composite Rating of 99. Its Relative Strength Rating is not far behind at 98.

The stock broke out of a double bottom base at 92.90 and is in buy range to 97.55. December-quarter sales of $1.8 billion grew 54% while earnings per share $3.26 were up an impressive 270%, extending a streak of outstanding EPS growth.

Mutual funds own 60% of SMCI shares. The growth stock holds first place in the computer hardware and peripherals group, which ranks 23rd.

The San Jose, Calif.-based company makes high-performance server and storage products such as servers, workstations, networking devices and server management and security software.

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