Qorvo Inc (QRVO)
Qorvo is an American semiconductor company that designs, manufactures, and supplies radio-frequency systems for applications that drive wireless and broadband communications, as well as foundry services.
Stock Price Trends
Stock price trends estimated using linear regression.
Key facts
- The primary trend is decreasing.
- The decline rate of the primary trend is 29.07% per annum.
- QRVO price at the close of July 26, 2024 was $122.01 and was higher than the top border of the primary price channel by $48.63 (66.27%). This indicates a possible reversal in the primary trend direction.
- The secondary trend is increasing.
- The growth rate of the secondary trend is 8.87% per annum.
- QRVO price at the close of July 26, 2024 was inside the secondary price channel.
- The direction of the secondary trend is opposite to the direction of the primary trend. This indicates a possible reversal in the direction of the primary trend.
Linear Regression Model
Model equation:
Yi = α + β × Xi + εi
Top border of price channel:
Exp(Yi) = Exp(a + b × Xi + 2 × s)
Bottom border of price channel:
Exp(Yi) = Exp(a + b × Xi – 2 × s)
where:
i - observation number
Yi - natural logarithm of QRVO price
Xi - time index, 1 day interval
σ - standard deviation of εi
a - estimator of α
b - estimator of β
s - estimator of σ
Exp() - calculates the exponent of e
Primary Trend
Start date: November 11, 2020
End date: June 6, 2023
a = 5.7529
b = -0.0009
s = 0.1296
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × -0.0009) – 1
= -29.07%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.1296) – 1
= 67.94%
November 11, 2020 calculations
Top border of price channel:
Exp(Y327)
= Exp(a + b × X327 + 2 × s)
= Exp(a + b × 471 + 2 × s)
= Exp(5.7529 + -0.0009 × 471 + 2 × 0.1296)
= Exp(5.5689)
= $262.15
Bottom border of price channel:
Exp(Y327)
= Exp(a + b × X327 – 2 × s)
= Exp(a + b × 471 – 2 × s)
= Exp(5.7529 + -0.0009 × 471 – 2 × 0.1296)
= Exp(5.0505)
= $156.10
June 6, 2023 calculations
Top border of price channel:
Exp(Y971)
= Exp(a + b × X971 + 2 × s)
= Exp(a + b × 1,408 + 2 × s)
= Exp(5.7529 + -0.0009 × 1,408 + 2 × 0.1296)
= Exp(4.6872)
= $108.54
Bottom border of price channel:
Exp(Y971)
= Exp(a + b × X971 – 2 × s)
= Exp(a + b × 1,408 – 2 × s)
= Exp(5.7529 + -0.0009 × 1,408 – 2 × 0.1296)
= Exp(4.1687)
= $64.63
Description
- The primary trend is decreasing.
- The decline rate of the primary trend is 29.07% per annum.
- QRVO price at the close of July 26, 2024 was $122.01 and was higher than the top border of the primary price channel by $48.63 (66.27%). This indicates a possible reversal in the primary trend direction.
Secondary Trend
Start date: June 10, 2022
End date: July 26, 2024
a = 4.2724
b = 0.0002
s = 0.0795
Annual growth rate:
Exp(365 × b) – 1
= Exp(365 × 0.0002) – 1
= 8.87%
Price channel spread:
Exp(4 × s) – 1
= Exp(4 × 0.0795) – 1
= 37.45%
June 10, 2022 calculations
Top border of price channel:
Exp(Y724)
= Exp(a + b × X724 + 2 × s)
= Exp(a + b × 1,047 + 2 × s)
= Exp(4.2724 + 0.0002 × 1,047 + 2 × 0.0795)
= Exp(4.6753)
= $107.27
Bottom border of price channel:
Exp(Y724)
= Exp(a + b × X724 – 2 × s)
= Exp(a + b × 1,047 – 2 × s)
= Exp(4.2724 + 0.0002 × 1,047 – 2 × 0.0795)
= Exp(4.3572)
= $78.04
July 26, 2024 calculations
Top border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 + 2 × s)
= Exp(a + b × 1,824 + 2 × s)
= Exp(4.2724 + 0.0002 × 1,824 + 2 × 0.0795)
= Exp(4.8563)
= $128.55
Bottom border of price channel:
Exp(Y1,257)
= Exp(a + b × X1,257 – 2 × s)
= Exp(a + b × 1,824 – 2 × s)
= Exp(4.2724 + 0.0002 × 1,824 – 2 × 0.0795)
= Exp(4.5382)
= $93.52
Description
- The secondary trend is increasing.
- The growth rate of the secondary trend is 8.87% per annum.
- QRVO price at the close of July 26, 2024 was inside the secondary price channel.