Qorvo (QRVO) : The money flow analysis of Qorvo (QRVO) indicates a $15.4 million of outflow was on downticks, whereas, the investors on Tuesday gobbled up stocks worth $20.55 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.33 and so was the total money flow at $5.15 million. A solid up-down ratio of 6.66 in block trades indicates that the investors are accumulating the stock on weakness. The bulls lapped up $7.17 million worth of block trades on upticks. Only $1.08 million worth of the stock exchanged hands on downticks. The money flow was $6.1 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Qorvo (QRVO), pushing it down by -0.31% for the day. The stock slid $0.18 and traded at $57.69 during the day. Nonetheless, the stock is 0.12% over the previous weeks close.
Also, Brokerage firm Goldman Sachs maintains its rating on Qorvo (NASDAQ:QRVO). As per the latest information, the brokerage house raises the price target to $55 per share from a prior target of $50. The shares have been rated Neutral. The rating by the firm was issued on August 3, 2016.
Shares of Qorvo, Inc. appreciated by 2.96% during the last five trading days but lost 9.11% on a 4-week basis. Qorvo, Inc. is up 10.64% in the last 3-month period. Year-to-Date the stock performance stands at 13.34%.
Qorvo (NASDAQ:QRVO): The stock opened at $57.50 on Tuesday but the bulls could not build on the opening and the stock topped out at $58.03 for the day. The stock traded down to $57.29 during the day, due to lack of any buying support eventually closed down at $57.69 with a loss of -0.31% for the day. The stock had closed at $57.87 on the previous day. The total traded volume was 1,359,194 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the director of Qorvo, Inc., Gardner Jeffery R had sold 4,475 shares worth of $247,960 in a transaction dated August 16, 2016. In this transaction, 4,475 shares were sold at $55.41 per share.
Qorvo, Inc. provides core technologies and radio frequency (RF) solutions for mobile, infrastructure and defense and aerospace applications. The Company offers amplification, filtering and switching products for RF, microwave and millimeter-wave applications. It serves the mobile device, networks infrastructure and defense and aerospace markets. It designs, develops, manufactures and markets its products to the United States and international original equipment manufacturers and original design manufacturers. Its operating segments include Mobile Products (MP) and Infrastructure and Defense Products (IDP). The MP segment supplies RF solutions that perform various functions in the complex cellular radio front end section of smartphones and other cellular devices. The IDP segment supplies an array of RF solutions to wireless network infrastructure, defense and aerospace markets and short-range connectivity applications for commercial, consumer, industrial and automotive markets.