Shares of QLogic Corp. (NASDAQ:QLGC) hit a new 52-week high on Monday . The stock traded as high as $16.14 and last traded at $16.12, with a volume of 227,509 shares changing hands. The stock had previously closed at $16.04.

QLGC has been the subject of several recent analyst reports. Zacks Investment Research downgraded QLogic Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, May 3rd. TheStreet downgraded QLogic Corp. from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. 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. Pacific Crest downgraded QLogic Corp. to a “hold” rating in a research note on Thursday, June 16th. Finally, Barclays PLC reiterated a “hold” rating and issued a $13.00 price target on shares of QLogic Corp. in a research note on Thursday, June 16th. Six 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 a consensus rating of “Hold” and an average price target of $14.58.

The firm has a market cap of $1.36 billion and a PE ratio of 21.89. The stock has a 50-day moving average price of $15.28 and a 200 day moving average price of $13.75.

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

In related news, VP Anthony Carrozza sold 5,977 shares of QLogic Corp. stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $15.46, for a total value of $92,404.42. Following the completion of the sale, the vice president now owns 10,792 shares of the company’s stock, valued at approximately $166,844.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Several large investors have added to or reduced their stakes in QLGC. Dimensional Fund Advisors LP raised 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 valued at $75,521,000 after buying an additional 116,622 shares during the last quarter. Systematic Financial Management LP raised 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 worth $7,581,000 after buying an additional 405,015 shares in the last quarter. New York State Common Retirement Fund raised 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 worth $2,496,000 after buying an additional 96,870 shares in the last quarter. Finally, Rhumbline Advisers raised its position 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 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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