Here are three stocks with buy ranks and strong growth characteristics for investors to consider today, July 23rd:

Silicon Motion Technology Corporation (SIMO Quick QuoteSIMO - Free Report) : This manufacturer of NAND flash controllers for solid-state storage devices carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 1.1% over the last 60 days.

Silicon Motion Technology Corporation Price and Consensus

Silicon Motion Technology Corporation price-consensus-chart | Silicon Motion Technology Corporation Quote

Silicon Motion Technology has a PEG ratio of 0.55 compared with 5.76 for the industry. The company possesses a Growth Score  of B.

Silicon Motion Technology Corporation PEG Ratio (TTM)

Silicon Motion Technology Corporation peg-ratio-ttm | Silicon Motion Technology Corporation Quote

Despegar.com, Corp. : This online travel company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 10.5% over the last 60 days.

Despegar.com Corp. Price and Consensus

Despegar.com Corp. price-consensus-chart | Despegar.com Corp. Quote

Despegar.com has a PEG ratio of 0.57 compared with 2.12 for the industry. The company possesses a Growth Score of A.

Despegar.com Corp. PEG Ratio (TTM)

Despegar.com Corp. peg-ratio-ttm | Despegar.com Corp. Quote

KB Home (KBH Quick QuoteKBH - Free Report) : This homebuilding company carries a Zacks Rank #1, and has witnessed the Zacks Consensus Estimate for its current year earnings increasing 4.6% over the last 60 days.

KB Home Price and Consensus

KB Home price-consensus-chart | KB Home Quote

KB Home has a PEG ratio of 0.81 compared with 0.97 for the industry. The company possesses a Growth Score of B.

KB Home PEG Ratio (TTM)

KB Home peg-ratio-ttm | KB Home Quote

See the full list of top ranked stocks here.

Learn more about the Growth score and how it is calculated here.