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A company insider recently sold 3,000 shares of Qorvo Inc [QRVO]. Should You Sale?

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Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Qorvo Inc shares valued at $337,080 were sold by CREVISTON STEVEN E on Jun 17 ’24. At $112.36 per share, CREVISTON STEVEN E sold 3,000 shares. The insider’s holdings dropped to 83,591 shares worth approximately $9.8 million following the completion of this transaction.

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Also, Harrison Gina sold 210 shares, netting a total of over 22,270 in proceeds. Following the sale of shares at $106.05 each, the insider now holds 20,966 shares.

Before that, BRUGGEWORTH ROBERT A had sold 15,279 shares from its account. In a trade valued at $1,527,900, the President and CEO traded Qorvo Inc shares for $100.00 each. Upon closing the transaction, the insider’s holdings decreased to 15,279 shares, worth approximately $22.3 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 surge of approximately 3.00%. Over the course of the year, Qorvo Inc shares have jumped approximately 4.12%. Shares of the company reached a 52-week high of $121.65 on 03/04/24 and a 52-week low of $94.34 on 05/02/24. A 50-day SMA is recorded $105.34, while a 200-day SMA reached $104.08. Nevertheless, trading volume fell to 1.13 million shares from 1.07 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 115.97, which, if violated, would cause prices to drop to 114.80. In the upper region, resistance lies at 118.87. The next price resistance is at 120.61. RSI (Relative Strength Index) is 66.22 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.22, which suggests the price will increase in the coming days. Percent R is at 19.71%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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