QLogic Corp. Coverage Initiated by Analysts at Barclays Capital (QLGC)
Stock analysts at Barclays Capital began coverage on shares of QLogic Corp. (NASDAQ:QLGC) in a report issued on Wednesday, Analyst Ratings.Net reports. The firm set an “overweight” rating on the stock.
Shares of QLogic Corp. (NASDAQ:QLGC) opened at 11.01 on Wednesday. QLogic Corp. has a 1-year low of $8.63 and a 1-year high of $12.94. The stock’s 50-day moving average is $11.06 and its 200-day moving average is $10.69. The company has a market cap of $965.5 million and a P/E ratio of 19.56.
QLogic Corp. (NASDAQ:QLGC) last announced its earnings results on Thursday, July 25th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.04. The company had revenue of $113.10 million for the quarter, compared to the consensus estimate of $113.70 million. During the same quarter in the previous year, the company posted $0.26 earnings per share. The company’s revenue for the quarter was down 13.3% on a year-over-year basis. Analysts expect that QLogic Corp. will post $0.78 EPS for the current fiscal year.
Other equities research analysts have also recently issued reports about the stock. Analysts at Morgan Stanley reiterated a “sell” rating on shares of QLogic Corp. (NASDAQ:QLGC) in a research note to investors on Friday, July 26th. They now have a $9.00 price target on the stock. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of QLogic Corp. (NASDAQ:QLGC) from $11.00 to $11.50 in a research note to investors on Friday, July 26th. They now have an “underweight” rating on the stock. Finally, analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of QLogic Corp. (NASDAQ:QLGC) in a research note to investors on Friday, July 26th.
Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company’s stock. QLogic Corp. has a consensus rating of “Hold” and a consensus target price of $11.14.
QLogic Corporation designs and supplies network infrastructure products that provide and manage computer data communication.
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