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

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 1.0 %

Shares of QRVO traded down $0.77 on Friday, reaching $76.72. The company’s stock had a trading volume of 338,248 shares, compared to its average volume of 3,152,850. Qorvo, Inc. has a twelve month low of $64.54 and a twelve month high of $130.99. The stock has a market capitalization of $7.17 billion, a PE ratio of 274.30, a PEG ratio of 15.93 and a beta of 1.41. 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 firm has a fifty day moving average of $75.74 and a 200-day moving average of $88.70.

Insider Activity

In other 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 transaction, the senior vice president now owns 30,261 shares in the company, valued at approximately $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.46% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Qorvo

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Securities Inc. purchased a new position in Qorvo in the fourth quarter worth $28,000. Huntington National Bank increased its position in shares of Qorvo by 47.1% during the 4th quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 145 shares during the last quarter. Larson Financial Group LLC raised its holdings in shares of Qorvo by 163.4% during the 3rd quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock valued at $33,000 after buying an additional 201 shares in the last quarter. SBI Securities Co. Ltd. bought a new stake in Qorvo in the 4th quarter worth approximately $37,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Qorvo during the third quarter worth approximately $41,000. Hedge funds and other institutional investors own 88.57% of the company’s stock.

Analysts Set New Price Targets

QRVO has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on Qorvo from $99.00 to $78.00 and set a “neutral” rating on the stock in a report on Friday, January 10th. Morgan Stanley raised shares of Qorvo from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $106.00 in a report on Tuesday, January 21st. UBS Group dropped their price target on shares of Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 30th. Bank of America reduced their price objective on shares of Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a research report on Wednesday, October 30th. Finally, Stifel Nicolaus cut their target price on Qorvo from $95.00 to $90.00 and set a “hold” rating on the stock in a research note on Wednesday, January 29th. Three investment 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 company presently has a consensus rating of “Hold” and a consensus target price of $95.84.

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.