QLogic Corp. (NASDAQ:QLGC) shares saw strong trading volume on Tuesday . 3,263,787 shares were traded during mid-day trading, an increase of 91% from the previous session’s volume of 1,708,252 shares.The stock last traded at $15.77 and had previously closed at $15.78.

A number of equities analysts recently commented on the stock. 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 note on Monday, August 1st. Barclays PLC raised 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 note 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 note on Saturday, June 18th. Pacific Crest lowered shares of QLogic Corp. to a “hold” rating in a research note on Thursday, June 16th. Finally, Argus lowered 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 note on Friday, June 17th. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $14.58.

The stock’s 50 day moving average price is $15.13 and its 200 day moving average price is $13.62. The company has a market capitalization of $1.32 billion and a P/E ratio of 21.61.

QLogic Corp. (NASDAQ:QLGC) last announced its earnings results on Tuesday, July 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The company had revenue of $116.40 million for the quarter, compared to analyst estimates of $115.60 million. QLogic Corp.’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.19 earnings per share. On average, equities research analysts expect 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 business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were 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 $166,844.32. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Several large investors have bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake 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 worth $75,521,000 after buying an additional 116,622 shares during the period. Morgan Stanley increased its stake in QLogic Corp. by 279.7% in the fourth quarter. Morgan Stanley now owns 659,543 shares of the company’s stock worth $8,046,000 after buying an additional 485,823 shares during the period. Systematic Financial Management LP increased its stake in QLogic Corp. by 187.1% in the fourth quarter. Systematic Financial Management LP now owns 621,473 shares of the company’s stock worth $7,581,000 after buying an additional 405,015 shares during the period. 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 period. Finally, 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 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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