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 $74,185 were sold by Harrison Gina on Sep 06 ’24. At $107.67 per share, Harrison Gina sold 689 shares. The insider’s holdings dropped to 21,601 shares worth approximately $1.58 million following the completion of this transaction.
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Also, Harrison Gina purchased 689 shares, netting a total of over 74,185 in proceeds.
Before that, FEGO PAUL J had added 2,500 shares to its account. In a trade valued at $284,600, the Officer bought Qorvo Inc shares for $113.84 each.
As published in a research note from TD Cowen on October 30, 2024, Qorvo Inc [QRVO] has been retained to a Hold and the price target has been revised to $85. Analysts at The Benchmark Company downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in late October. As of October 30, 2024, Raymond James has decreased its “an Outperform” rating to a “Mkt perform” for QRVO. Earlier on October 30, 2024, Exane BNP Paribas downgraded its rating. Their new recommendation was “a Neutral” for QRVO stock which previously was a “an Outperform”.
Analyzing QRVO Stock Performance
During the last five days, there has been a drop of approximately -27.13%. Over the course of the year, Qorvo Inc shares have dropped approximately -35.14%. Shares of the company reached a 52-week high of $130.99 on 07/16/24 and a 52-week low of $71.31 on 10/30/24. A 50-day SMA is recorded $104.00, while a 200-day SMA reached $108.90. Nevertheless, trading volume fell to 10.43 million shares from 2.7 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 70.23, which, if violated, would cause prices to drop to 67.42. In the upper region, resistance lies at 76.93. The next price resistance is at 80.82. RSI (Relative Strength Index) is 15.22 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -8.62, which suggests the price will decrease in the coming days. Percent R is at 95.20%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
