Rep. Julie Johnson Sells Qorvo, Inc. (NASDAQ:QRVO) Stock

Representative Julie Johnson (D-Texas) recently sold shares of Qorvo, Inc. NASDAQ: QRVO. In a filing disclosed on February 12th, the Representative disclosed that they had sold between $1,001 and $15,000 in Qorvo stock on January 15th. The trade occurred in the Representative's "MERRILL LYNCH TAX EFFICIENT CORE" account.

Representative Julie Johnson also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Dell Technologies NYSE: DELL on 1/28/2025.
• Sold $1,001 - $15,000 in shares of PepsiCo NASDAQ: PEP on 1/28/2025.
• Sold $1,001 - $15,000 in shares of Intuit NASDAQ: INTU on 1/28/2025.
• Sold $1,001 - $15,000 in shares of ALLETE NYSE: ALE on 1/28/2025.
• Sold $1,001 - $15,000 in shares of PPG Industries NYSE: PPG on 1/27/2025.
• Purchased $1,001 - $15,000 in shares of Progressive NYSE: PGR on 1/24/2025.
• Purchased $1,001 - $15,000 in shares of The Goldman Sachs Group NYSE: GS on 1/24/2025.
• Sold $1,001 - $15,000 in shares of Chubb NYSE: CB on 1/24/2025.
• Sold $1,001 - $15,000 in shares of Morgan Stanley NYSE: MS on 1/24/2025.
• Purchased $1,001 - $15,000 in shares of Merck & Co., Inc. NYSE: MRK on 1/17/2025.

Qorvo Stock Up 2.4 %

NASDAQ:QRVO traded up $1.80 on Tuesday, hitting $77.96. 1,671,881 shares of the company's stock traded hands, compared to its average volume of 3,142,003. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. Qorvo, Inc. has a 1 year low of $64.54 and a 1 year high of $130.99. The firm has a 50-day moving average price of $76.22 and a 200-day moving average price of $87.48. The company has a market cap of $7.28 billion, a PE ratio of 278.43, a price-to-earnings-growth ratio of 15.93 and a beta of 1.41.

Hedge Funds Weigh In On Qorvo

Several hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC lifted its stake in Qorvo by 33.7% in the third quarter. Farther Finance Advisors LLC now owns 413 shares of the semiconductor company's stock valued at $43,000 after buying an additional 104 shares during the period. V Square Quantitative Management LLC lifted its stake in Qorvo by 5.0% in the third quarter. V Square Quantitative Management LLC now owns 2,233 shares of the semiconductor company's stock valued at $231,000 after buying an additional 107 shares during the period. Verdence Capital Advisors LLC lifted its stake in Qorvo by 3.7% in the third quarter. Verdence Capital Advisors LLC now owns 3,884 shares of the semiconductor company's stock valued at $401,000 after buying an additional 140 shares during the period. Alexander Randolph Advisory Inc. lifted its stake in Qorvo by 1.0% in the fourth quarter. Alexander Randolph Advisory Inc. now owns 13,592 shares of the semiconductor company's stock valued at $950,000 after buying an additional 140 shares during the period. Finally, Huntington National Bank lifted its stake in Qorvo by 47.1% in the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company's stock valued at $32,000 after buying an additional 145 shares during the period. Institutional investors and hedge funds own 88.57% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on QRVO shares. TD Cowen lowered their price target on Qorvo from $125.00 to $85.00 and set a "hold" rating for the company in a research note on Wednesday, October 30th. Raymond James lowered Qorvo from an "outperform" rating to a "market perform" rating in a report on Wednesday, October 30th. Needham & Company LLC reiterated a "buy" rating and set a $100.00 price target on shares of Qorvo in a report on Wednesday, January 29th. Craig Hallum cut their target price on Qorvo from $142.00 to $105.00 and set a "buy" rating for the company in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group cut their target price on Qorvo from $99.00 to $78.00 and set a "neutral" rating for the company in a research note on Friday, January 10th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and an average target price of $95.84.

Insider Buying and Selling at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the sale, the senior vice president now owns 30,261 shares of the company's stock, valued at approximately $2,122,809.15. This trade represents a 11.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.46% of the company's stock.

About Representative Johnson

Julie Johnson (Democratic Party) is a member of the U.S. House, representing Texas' 32nd Congressional District. She assumed office on January 3, 2025. Her current term ends on January 3, 2027. Johnson (Democratic Party) ran for election to the U.S. House to represent Texas' 32nd Congressional District. She won in the general election on November 5, 2024. Julie Johnson earned a B.A. in history and government from the University of Texas at Austin in 1987 and a J.D. from the University of Houston Law Center in 1991. Johnson's career experience includes working as an attorney.

Qorvo Company Profile

Qorvo, Inc engages in development and commercialization of technologies and products for wireless, wired, and power markets. It operates through three segments: High Performance Analog (HPA), Connectivity and Sensors Group (CSG), and Advanced Cellular Group (ACG). The HPA segment supplies radio frequency and power management solutions for automotive, defense and aerospace, cellular infrastructure, broadband, and other markets.