Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Qorvo Inc shares valued at $102,711 were sold by Chesley Philip on Nov 15 ’24. At $65.63 per share, Chesley Philip sold 1,565 shares. The insider’s holdings dropped to 34,306 shares worth approximately $2.35 million following the completion of this transaction.
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Also, Chesley Philip purchased 1,565 shares, netting a total of over 102,711 in proceeds.
Before that, Harrison Gina had sold 689 shares from its account. In a trade valued at $74,185, the VP and Corporate Controller traded Qorvo Inc shares for $107.67 each. Upon closing the transaction, the insider’s holdings decreased to 689 shares, worth approximately $1.48 million.
As published in their initiating research note from Loop Capital on November 12, 2024, Qorvo Inc [QRVO] has been a Hold and the price target has been revised to $73. Analysts at TD Cowen resumed the stock at ‘”a Hold”‘ outlook in a report released in late October. As of October 30, 2024, The Benchmark Company has decreased its “Buy” rating to a “Hold” for QRVO. Earlier on October 30, 2024, Raymond James downgraded its rating. Their new recommendation was “a Mkt perform” for QRVO stock which previously was a “an Outperform”.
Analyzing QRVO Stock Performance
During the last five days, there has been a surge of approximately 4.17%. Over the course of the year, Qorvo Inc shares have dropped approximately -39.26%. Shares of the company reached a 52-week high of $130.99 on 07/16/24 and a 52-week low of $64.98 on 11/20/24. A 50-day SMA is recorded $88.20, while a 200-day SMA reached $105.14. Nevertheless, trading volume fell to 1.25 million shares from 2.35 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 67.79, which, if violated, would cause prices to drop to 67.18. In the upper region, resistance lies at 69.00. The next price resistance is at 69.61. RSI (Relative Strength Index) is 30.90 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.22, which suggests the price will increase in the coming days. Percent R is at 51.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
