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Keeping an Eye on Qorvo Inc (QRVO) After Insider Trading Activity


Qorvo Inc’s filing revealed that its Director HARDING JOHN R unloaded Company’s shares for reported $91616.0 on May 08 ’24. In the deal valued at $97.36 per share,941 shares were sold. As a result of this transaction, HARDING JOHN R now holds 6,950 shares worth roughly $0.68 million.

Then, CREVISTON STEVEN E sold 3,000 shares, generating $360,000 in total proceeds. Upon selling the shares at $120.00, the SVP, Connectivity & Sensors now owns 77,552 shares.

Before that, Chesley Philip sold 4,253 shares. Qorvo Inc shares valued at $484,842 were divested by the SVP, High Performance Analog at a price of $114.00 per share. As a result of the transaction, Chesley Philip now holds 25,286 shares, worth roughly $2.49 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 0.68% to $98.35. Over the last five days, the stock has gained 2.22%. Qorvo Inc shares have fallen nearly -12.66% since the year began. Nevertheless, the stocks have risen 8.60% 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 05/02/24. SMA at 50 days reached $111.02, while 200 days put it at $103.59. A total of 1.01 million shares were traded, compared to the trading of 0.82 million shares in the previous session.

Levels Of Support And Resistance For QRVO Stock

The 24-hour chart illustrates a support level at 97.75, which if violated will result in even more drops to 97.14. On the upside, there is a resistance level at 99.13. A further resistance level may holdings at 99.90. The Relative Strength Index (RSI) on the 14-day chart is 36.98, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -6.94, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 83.77%. Stochastics %K at 13.55% indicates the stock is a buying.

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