QLogic Corp. (NASDAQ:QLGC)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $15.14 and last traded at $15.12, with a volume of 434,171 shares trading hands. The stock had previously closed at $14.97.

A number of equities research analysts recently commented on QLGC shares. Argus cut shares of QLogic Corp. from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research report on Friday, June 17th. Barclays PLC reissued a “hold” rating and set a $13.00 target price on shares of QLogic Corp. in a research report on Thursday, June 16th. TheStreet cut shares of QLogic Corp. from a “buy” rating to a “hold” rating in a research report on Friday, May 6th. Pacific Crest cut shares of QLogic Corp. to a “hold” rating in a research report on Thursday, June 16th. Finally, Zacks Investment Research cut shares of QLogic Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. One analyst has rated the stock with a sell rating, eight have given a hold rating and one has assigned a buy rating to the stock. QLogic Corp. currently has a consensus rating of “Hold” and an average target price of $13.50.

The stock has a 50-day moving average of $14.42 and a 200 day moving average of $13.18. The firm has a market capitalization of $1.26 billion and a PE ratio of 28.00.

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

A number of hedge funds and institutional investors have recently bought and sold shares of QLGC. Morgan Stanley boosted its position in QLogic Corp. by 279.7% in the fourth quarter. Morgan Stanley now owns 659,543 shares of the company’s stock valued at $8,046,000 after buying an additional 485,823 shares during the period. Systematic Financial Management LP boosted its position in QLogic Corp. by 187.1% in the fourth quarter. Systematic Financial Management LP now owns 621,473 shares of the company’s stock valued at $7,581,000 after buying an additional 405,015 shares during the period. Schroder Investment Management Group boosted its position in QLogic Corp. by 12.8% in the fourth quarter. Schroder Investment Management Group now owns 1,339,339 shares of the company’s stock valued at $16,340,000 after buying an additional 151,700 shares during the period. Dimensional Fund Advisors LP boosted its position in QLogic Corp. by 1.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 6,190,155 shares of the company’s stock valued at $75,521,000 after buying an additional 116,622 shares during the period. Finally, New York State Common Retirement Fund boosted its position 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 during the period.

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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