Louisiana State Employees Retirement System Acquires 100 Shares of QLogic Corp. (QLGC)
Louisiana State Employees Retirement System boosted its stake in QLogic Corp. (NASDAQ:QLGC) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 36,800 shares of the company’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in QLogic Corp. were worth $542,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of QLGC. Bayesian Capital Management LP boosted its stake in QLogic Corp. by 53.7% in the first quarter. Bayesian Capital Management LP now owns 20,900 shares of the company’s stock valued at $281,000 after buying an additional 7,300 shares in the last quarter. Invictus RG boosted its stake in QLogic Corp. by 30.0% in the first quarter. Invictus RG now owns 31,891 shares of the company’s stock valued at $429,000 after buying an additional 7,360 shares in the last quarter. A.R.T. Advisors LLC boosted its stake in QLogic Corp. by 6.9% in the first quarter. A.R.T. Advisors LLC now owns 63,562 shares of the company’s stock valued at $854,000 after buying an additional 4,100 shares in the last quarter. BlackRock Group LTD boosted its stake in QLogic Corp. by 7.4% in the first quarter. BlackRock Group LTD now owns 98,974 shares of the company’s stock valued at $1,330,000 after buying an additional 6,817 shares in the last quarter. Finally, HBK Investments L P boosted its stake in QLogic Corp. by 188.4% in the first quarter. HBK Investments L P now owns 149,384 shares of the company’s stock valued at $2,008,000 after buying an additional 97,584 shares in the last quarter.
Shares of QLogic Corp. (NASDAQ:QLGC) remained flat at $16.07 on Tuesday. QLogic Corp. has a 1-year low of $8.81 and a 1-year high of $16.14. The firm has a 50 day moving average of $15.28 and a 200-day moving average of $13.75.
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 consensus estimate of $0.25 by $0.04. The firm earned $116.40 million during the quarter, compared to analysts’ expectations of $115.60 million. During the same period last year, the business posted $0.19 EPS. The company’s revenue was up 2.6% compared to the same quarter last year. On average, analysts forecast that QLogic Corp. will post $1.09 EPS for the current year.
QLGC has been the subject of several recent analyst reports. 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. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. QLogic Corp. currently has a consensus rating of “Hold” and an average price target of $14.90.
In related news, VP Anthony Carrozza sold 5,977 shares of QLogic Corp. stock in a transaction dated Tuesday, August 2nd. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
QLogic Corp. Company Profile
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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