Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Qorvo Inc shares valued at $283,757 were sold by Chesley Philip on Dec 05 ’24. At $70.15 per share, Chesley Philip sold 4,045 shares. The insider’s holdings dropped to 30,261 shares worth approximately $2.16 million following the completion of this transaction.
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Also, Chesley Philip purchased 4,045 shares, netting a total of over 283,757 in proceeds.
Before that, Chesley Philip had sold 1,565 shares from its account. In a trade valued at $102,711, the SVP, High Performance Analog traded Qorvo Inc shares for $65.63 each. Upon closing the transaction, the insider’s holdings decreased to 1,565 shares, worth approximately $2.45 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 0.49%. Over the course of the year, Qorvo Inc shares have dropped approximately -36.68%. Shares of the company reached a 52-week high of $130.99 on 07/16/24 and a 52-week low of $64.54 on 12/06/24. A 50-day SMA is recorded $76.50, while a 200-day SMA reached $101.09. Nevertheless, trading volume fell to 0.97 million shares from 3.94 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 70.81, which, if violated, would cause prices to drop to 70.11. In the upper region, resistance lies at 72.20. The next price resistance is at 72.90. RSI (Relative Strength Index) is 49.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 1.59, which suggests the price will increase in the coming days. Percent R is at 17.54%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
