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 Trading Up 0.6 %

Shares of QRVO opened at $77.49 on Friday. The business’s 50-day moving average price is $75.74 and its 200 day moving average price is $88.70. 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 $7.24 billion, a P/E ratio of 276.75, a P/E/G ratio of 15.93 and a beta of 1.41. Qorvo, Inc. has a 1-year low of $64.54 and a 1-year high of $130.99.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on QRVO shares. Raymond James downgraded shares of Qorvo from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded 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 research report on Tuesday, January 21st. Bank of America reduced their target price on Qorvo from $115.00 to $80.00 and set an “underperform” rating for the company in a report on Wednesday, October 30th. UBS Group lowered their price target on Qorvo from $115.00 to $90.00 and set a “neutral” rating on the stock in a report on Wednesday, October 30th. Finally, Benchmark reissued a “hold” rating on shares of Qorvo in a research report on Wednesday, January 29th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $95.84.

Insiders Place Their Bets

In other news, SVP Philip Chesley sold 4,045 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were 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 $2,122,809.15. The trade was a 11.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.46% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. bought a new position in Qorvo during the 4th quarter worth about $28,000. Huntington National Bank boosted its position in shares of Qorvo by 47.1% during the fourth quarter. Huntington National Bank now owns 453 shares of the semiconductor company’s stock worth $32,000 after buying an additional 145 shares during the period. Larson Financial Group LLC grew its holdings in shares of Qorvo by 163.4% during the third quarter. Larson Financial Group LLC now owns 324 shares of the semiconductor company’s stock worth $33,000 after buying an additional 201 shares in the last quarter. SBI Securities Co. Ltd. acquired a new stake in Qorvo in the 4th quarter valued at approximately $37,000. Finally, Livforsakringsbolaget Skandia Omsesidigt bought a new stake in Qorvo in the 3rd quarter valued at approximately $41,000. Institutional investors and hedge funds own 88.57% 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.