QLogic Corp. (NASDAQ:QLGC) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $15.01 and last traded at $14.99, with a volume of 226,468 shares. The stock had previously closed at $14.94.

QLGC has been the subject of a number of research reports. Zacks Investment Research lowered shares of QLogic Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, May 3rd. TheStreet lowered shares of QLogic Corp. from a “buy” rating to a “hold” rating in a report on Friday, May 6th. Argus lowered shares of QLogic Corp. from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a report on Friday, June 17th. Pacific Crest lowered shares of QLogic Corp. to a “hold” rating in a report on Thursday, June 16th. Finally, Barclays PLC reaffirmed a “hold” rating and set a $13.00 target price on shares of QLogic Corp. in a report on Thursday, June 16th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $13.50.

The company’s 50-day moving average price is $14.31 and its 200-day moving average price is $13.12. The company has a market cap of $1.24 billion and a P/E ratio of 27.69.

QLogic Corp. (NASDAQ:QLGC) last released its quarterly earnings results on Thursday, May 5th. The company reported $0.30 EPS for the quarter, topping the consensus estimate of $0.25 by $0.05. The company had revenue of $119.40 million for the quarter, compared to analyst estimates of $116.82 million. During the same period last year, the firm posted $0.28 earnings per share. The business’s revenue was down 10.2% on a year-over-year basis. Equities analysts forecast that QLogic Corp. will post $1.05 EPS for the current fiscal year.

A number of large investors have bought and sold shares of QLGC. Rhumbline Advisers increased its stake in QLogic Corp. by 4.6% in the fourth quarter. Rhumbline Advisers now owns 143,858 shares of the company’s stock valued at $1,755,000 after buying an additional 6,350 shares in the last quarter. California State Teachers Retirement System increased its stake in QLogic Corp. by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 161,740 shares of the company’s stock valued at $1,973,000 after buying an additional 2,573 shares in the last quarter. New York State Common Retirement Fund increased its stake in QLogic Corp. by 89.9% in the fourth quarter. New York State Common Retirement Fund now owns 204,603 shares of the company’s stock valued at $2,496,000 after buying an additional 96,870 shares in the last quarter. Mutual of America Capital Management LLC increased its stake in QLogic Corp. by 9.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 221,546 shares of the company’s stock valued at $2,703,000 after buying an additional 18,672 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in QLogic Corp. by 37.2% in the fourth quarter. First Trust Advisors LP now owns 244,705 shares of the company’s stock valued at $2,985,000 after buying an additional 66,352 shares in the last quarter.

QLogic Corporation (QLogic) designs and supplies server and storage networking connectivity products that provide and manage computer data communication. These products facilitate the transfer of data and enable resource sharing between servers, networks and storage. The Company’s products are used in enterprise, managed service provider, consumer Web, and cloud service provider data centers, along with other environments dependent on data networking.

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