QLogic Corp. PT Raised to $12.00 at BMO Capital Markets (QLGC)
Research analysts at BMO Capital Markets hoisted their price target on shares of QLogic Corp. (NASDAQ:QLGC) from $10.00 to $12.00 in a report released on Friday, AR Network reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price objective would suggest a potential downside of 2.36% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of QLogic Corp. in a research note to investors on Friday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of QLogic Corp. in a research note to investors on Friday, October 4th. They now have a $11.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of QLogic Corp. in a research note to investors on Wednesday, September 11th. They set an “overweight” rating and a $14.00 price target on the stock. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $11.67.
Shares of QLogic Corp. (NASDAQ:QLGC) opened at 12.29 on Friday. QLogic Corp. has a 52 week low of $8.63 and a 52 week high of $12.92. The stock’s 50-day moving average is $11.10 and its 200-day moving average is $10.70. The company has a market cap of $1.078 billion and a price-to-earnings ratio of 19.15.
QLogic Corp. (NASDAQ:QLGC) last announced its earnings results on Thursday, October 24th. The company reported $0.23 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.19 by $0.04. The company had revenue of $112.60 million for the quarter, compared to the consensus estimate of $112.06 million. During the same quarter last year, the company posted $0.18 earnings per share. QLogic Corp.’s revenue was down 4.5% compared to the same quarter last year. Analysts expect that QLogic Corp. will post $0.78 EPS for the current fiscal year.
QLogic Corporation designs and supplies network infrastructure products that provide and manage computer data communication.
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