Qorvo (QRVO) : Traders are bullish on Qorvo (QRVO) as it has outperformed the S&P 500 by a wide margin of 12.25% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 4.48%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 4.41% in the last 1 week, and is up 16.02% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 8.52% and the 50-Day Moving Average is 14.53%. Qorvo, Inc. is up 40.42% in the last 3-month period. Year-to-Date the stock performance stands at 24.22%.
Qorvo (NASDAQ:QRVO): stock turned positive on Friday. Though the stock opened at $63, the bulls momentum made the stock top out at $63.44 level for the day. The stock recorded a low of $61.79 and closed the trading day at $63.23, in the green by 0.21%. The total traded volume for the day was 2,546,741. The stock had closed at $63.1 in the previous days trading.
Also, Mizuho Securities downgrades their rating on the shares of Qorvo (NASDAQ:QRVO). The current rating of the shares is Neutral. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 1, 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.