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Qorvo Inc (QRVO) gets rating Reiterated from Craig Hallum

Qorvo Inc’s recent filing unveils that its SVP, Connectivity & Sensors CREVISTON STEVEN E unloaded Company’s shares for reported $0.36 million on Mar 01 ’24. In the deal valued at $120.00 per share,3,000 shares were sold. As a result of this transaction, CREVISTON STEVEN E now holds 77,552 shares worth roughly $9.22 million.

Then, Chesley Philip sold 4,253 shares, generating $484,842 in total proceeds. Upon selling the shares at $114.00, the SVP, High Performance Analog now owns 25,286 shares.

Before that, FEGO PAUL J sold 3,027 shares. Qorvo Inc shares valued at $345,078 were divested by the SVP, Global Operations at a price of $114.00 per share. As a result of the transaction, FEGO PAUL J now holds 29,705 shares, worth roughly $3.53 million.

Craig Hallum reiterated its Qorvo Inc [QRVO] rating to a Buy in a research note published on February 01, 2024; the price target was $125. A number of analysts have revised their coverage, including Piper Sandler’s analysts, who decreased its forecast for the stock in early January from “an Overweight” to “a Neutral”. Morgan Stanley also remained covering QRVO and has increased its forecast on December 08, 2023 with a “an Overweight” recommendation from previously “an Equal-weight” rating. Summit Insights revised its rating on November 02, 2023. It rated QRVO as “a Hold” which previously was an “a Buy”.

Price Performance Review of QRVO

On Monday, Qorvo Inc [NASDAQ:QRVO] saw its stock jump 1.78% to $118.83. Over the last five days, the stock has gained 10.93%. Qorvo Inc shares have risen nearly 5.52% since the year began. Nevertheless, the stocks have risen 31.55% over the past one year. While a 52-week high of $121.65 was reached on 03/04/24, a 52-week low of $80.62 was recorded on 01/31/24. SMA at 50 days reached $113.69, while 200 days put it at $103.90. A total of 1.04 million shares were traded, compared to the trading of 1.04 million shares in the previous session.

Levels Of Support And Resistance For QRVO Stock

The 24-hour chart illustrates a support level at 116.91, which if violated will result in even more drops to 115.00. On the upside, there is a resistance level at 119.82. A further resistance level may holdings at 120.82. The Relative Strength Index (RSI) on the 14-day chart is 61.54, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 5.19, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.48%. Stochastics %K at 93.73% indicates the stock is a selling.

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