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

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

The firm’s 50-day moving average price is $15.10 and its 200-day moving average price is $13.61. The company has a market cap of $1.32 billion and a PE ratio of 21.62.

QLogic Corp. (NASDAQ:QLGC) last posted its quarterly earnings results on Tuesday, July 26th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.25 by $0.04. During the same quarter in the prior year, the firm earned $0.19 EPS. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $115.60 million. The firm’s revenue was up 2.6% on a year-over-year basis. On average, equities analysts anticipate that QLogic Corp. will post $1.10 EPS for the current year.

In related news, VP Anthony Carrozza sold 5,977 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $15.46, for a total transaction of $92,404.42. Following the completion of the sale, the vice president now directly owns 10,792 shares of the company’s stock, valued at approximately $166,844.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Several hedge funds have modified their holdings of QLGC. Rhumbline Advisers increased its stake in shares of 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. California State Teachers Retirement System increased its stake in shares of 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. New York State Common Retirement Fund increased its stake in shares of 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. Mutual of America Capital Management LLC increased its stake in shares of 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. Finally, First Trust Advisors LP increased its stake in shares of 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.

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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