Qorvo (NASDAQ:QRVO) Shares Unloaded Rep. Julie Johnson

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 Down 1.7 %

QRVO stock traded down $1.33 during mid-day trading on Friday, hitting $76.16. The stock had a trading volume of 1,438,542 shares, compared to its average volume of 3,590,921. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99. The company has a fifty day moving average of $75.90 and a 200 day moving average of $88.38. The company has a current ratio of 2.60, a quick ratio of 1.78 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $7.11 billion, a price-to-earnings ratio of 272.00, a PEG ratio of 15.93 and a beta of 1.41.

Insider Transactions at Qorvo

In related news, SVP Philip Chesley sold 4,045 shares of Qorvo stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $70.15, for a total value of $283,756.75. Following the completion of the sale, the senior vice president now directly owns 30,261 shares in the company, valued at $2,122,809.15. This trade represents a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.46% of the company’s stock.

Analyst Ratings Changes

QRVO has been the subject of several recent research reports. Morgan Stanley raised Qorvo from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $90.00 to $106.00 in a research note on Tuesday, January 21st. BNP Paribas cut Qorvo from an “outperform” rating to a “neutral” rating and set a $80.00 price target for the company. in a research note on Wednesday, October 30th. Piper Sandler raised Qorvo from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $85.00 to $110.00 in a research note on Monday, January 27th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Qorvo in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. lowered their price target on Qorvo from $115.00 to $95.00 and set an “underweight” rating for the company in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $95.84.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Mediolanum International Funds Ltd acquired a new position in shares of Qorvo in the fourth quarter valued at $1,177,000. GDS Wealth Management bought a new stake in shares of Qorvo during the third quarter worth $2,171,000. Robeco Institutional Asset Management B.V. grew its holdings in shares of Qorvo by 78.6% during the third quarter. Robeco Institutional Asset Management B.V. now owns 537,730 shares of the semiconductor company’s stock worth $55,548,000 after purchasing an additional 236,590 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Qorvo by 245.6% during the fourth quarter. Janney Montgomery Scott LLC now owns 14,641 shares of the semiconductor company’s stock worth $1,024,000 after purchasing an additional 10,405 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in shares of Qorvo during the third quarter worth $2,507,000. 88.57% of the stock is currently owned by institutional investors and hedge funds.

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.

About Qorvo

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.