Qorvo (QRVO) has been under a strong bear grip, hence the stock is down -7.5% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 3.04% in the past 1 week. The stock has risen by 3% in the past week indicating that the buyers are active at lower levels, but the stock is down -7.15% in the past 4 weeks.
Qorvo, Inc. is up 13.83% in the last 3-month period. Year-to-Date the stock performance stands at 10.47%. The stock has recorded a 20-day Moving Average of 2.4% and the 50-Day Moving Average is 0.71%.
Qorvo (NASDAQ:QRVO): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $55.06 and $54.91 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $56.52. The buying momentum continued till the end and the stock did not give up its gains. It closed at $56.23, notching a gain of 1.87% for the day. The total traded volume was 1,352,547 . The stock had closed at $55.20 on the previous day.
Also, Equity Analysts at the Brokerage Firm, Goldman Sachs, maintains their rating on the shares of Qorvo (NASDAQ:QRVO). Goldman Sachs has a Neutral rating on the shares. As per the latest research report, the brokerage house raises the price target to $55 per share from a prior target of $50. The rating by the firm was issued on August 3, 2016.
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.