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Qorvo Inc (QRVO) receives a Buy rating from Craig Hallum

Qorvo Inc’s recently made public that its President and CEO BRUGGEWORTH ROBERT A unloaded Company’s shares for reported $1.53 million on Jun 06 ’24. In the deal valued at $100.00 per share,15,279 shares were sold. As a result of this transaction, BRUGGEWORTH ROBERT A now holds 190,161 shares worth roughly $19.46 million.

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Then, BRUGGEWORTH ROBERT A sold 4,721 shares, generating $472,100 in total proceeds. Upon selling the shares at $100.00, the President and CEO now owns 205,440 shares.

Before that, BRUGGEWORTH ROBERT A sold 12,954 shares. Qorvo Inc shares valued at $1,287,369 were divested by the President and CEO at a price of $99.38 per share. As a result of the transaction, BRUGGEWORTH ROBERT A now holds 212,478 shares, worth roughly $21.75 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 2.88% to $102.36. Over the last five days, the stock has gained 4.57%. Qorvo Inc shares have fallen nearly -9.10% since the year began. Nevertheless, the stocks have risen 3.35% 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 $104.83, while 200 days put it at $103.10. A total of 2.25 million shares were traded, compared to the trading of 0.8 million shares in the previous session.

Levels Of Support And Resistance For QRVO Stock

The 24-hour chart illustrates a support level at 99.64, which if violated will result in even more drops to 96.92. On the upside, there is a resistance level at 104.29. A further resistance level may holdings at 106.22. The Relative Strength Index (RSI) on the 14-day chart is 55.04, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.06, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.69%. Stochastics %K at 85.23% indicates the stock is a selling.

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