QLogic Corp. (NASDAQ:QLGC) shares hit a new 52-week high on Monday . The company traded as high as $15.83 and last traded at $15.77, with a volume of 1,376,136 shares trading hands. The stock had previously closed at $15.76.

A number of brokerages have weighed in on QLGC. Zacks Investment Research upgraded QLogic Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Monday, August 1st. DA Davidson reaffirmed a “hold” rating and issued a $15.50 target price on shares of QLogic Corp. in a research note on Saturday, June 18th. Barclays PLC raised their target price on QLogic Corp. from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research note on Thursday, July 7th. Argus downgraded QLogic Corp. from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Friday, June 17th. Finally, Pacific Crest downgraded QLogic Corp. to a “hold” rating in a research note on Thursday, June 16th. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $14.58.

The firm has a market capitalization of $1.32 billion and a PE ratio of 21.50. The stock has a 50 day moving average price of $15.05 and a 200 day moving average price of $13.52.

QLogic Corp. (NASDAQ:QLGC) last announced its quarterly earnings data on Tuesday, July 26th. The company reported $0.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $115.60 million. The company’s revenue was up 2.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.19 EPS. On average, analysts predict that QLogic Corp. will post $1.10 earnings per share for the current fiscal year.

In related news, VP Anthony Carrozza sold 5,977 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $15.46, for a total transaction of $92,404.42. Following the transaction, the vice president now owns 10,792 shares of the company’s stock, valued at $166,844.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Other hedge funds have recently bought and sold shares of the company. 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 worth $1,973,000 after buying an additional 2,573 shares during the last quarter. 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 worth $2,985,000 after buying an additional 66,352 shares during the last quarter. 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 worth $1,755,000 after buying an additional 6,350 shares during 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 worth $2,496,000 after buying an additional 96,870 shares during the last quarter. Finally, 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 worth $2,703,000 after buying an additional 18,672 shares during 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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