The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Qorvo Inc shares valued at $360,000 were sold by CREVISTON STEVEN E on Mar 01 ’24. At $120.00 per share, CREVISTON STEVEN E sold 3,000 shares. The insider’s holdings dropped to 77,552 shares worth approximately $8.76 million following the completion of this transaction.
Also, Chesley Philip sold 4,253 shares, netting a total of over 484,842 in proceeds. Following the sale of shares at $114.00 each, the insider now holds 25,286 shares.
Before that, FEGO PAUL J had sold 3,027 shares from its account. In a trade valued at $345,078, the SVP, Global Operations traded Qorvo Inc shares for $114.00 each. Upon closing the transaction, the insider’s holdings decreased to 3,027 shares, worth approximately $3.36 million.
As published in a research note from Craig Hallum on February 01, 2024, Qorvo Inc [QRVO] has been retained to a Buy and the price target has been revised to $125. Analysts at Piper Sandler downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in early January. As of December 08, 2023, Morgan Stanley has increased its “an Equal-weight” rating to a “an Overweight” for QRVO. Earlier on November 02, 2023, Summit Insights downgraded its rating. Their new recommendation was “a Hold” for QRVO stock which previously was a “a Buy”.
Analyzing QRVO Stock Performance
During the last five days, there has been a drop of approximately -1.40%. Over the course of the year, Qorvo Inc shares have jumped approximately 0.35%. Shares of the company reached a 52-week high of $121.65 on 03/04/24 and a 52-week low of $98.34 on 01/31/24. A 50-day SMA is recorded $112.20, while a 200-day SMA reached $102.99. Nevertheless, trading volume fell to 1.25 million shares from 0.78 million shares the previous day.
Support And Resistance Levels for Qorvo Inc (QRVO)
According to the 24-hour chart, there is a support level at 111.47, which, if violated, would cause prices to drop to 109.95. In the upper region, resistance lies at 115.58. The next price resistance is at 118.17. RSI (Relative Strength Index) is 48.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.41, which suggests the price will decrease in the coming days. Percent R is at 55.45%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Qorvo Inc subject to short interest?
Stocks of Qorvo Inc saw a sharp steep in short interest on Mar 15, 2024 dropping by 50000.0 shares to 2.39 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 2.44 million shares. A decline of -2.09% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.06 of the overall float, the days-to-cover ratio (short ratio) decline to 2.06.
