QLogic Corp. PT Raised to $12.00 (QLGC)
Equities research analysts at JPMorgan Chase & Co. upped their price objective on shares of QLogic Corp. (NASDAQ:QLGC) from $11.50 to $12.00 in a research note issued to investors on Friday, StockRatingsNetwork reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.’s target price points to a potential downside of 2.36% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets raised their price target on shares of QLogic Corp. from $10.00 to $12.00 in a research note to investors on Friday. They now have a “market perform” rating on the stock. Separately, analysts at Lazard Capital Markets reiterated a “neutral” rating on shares of QLogic Corp. in a research note to investors on Friday. Finally, 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. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company’s stock. QLogic Corp. has an average 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 one year low of $8.63 and a one year high of $12.92. The stock has a 50-day moving average of $11.10 and a 200-day moving average of $10.70. The company has a market cap of $1.078 billion and a P/E ratio of 19.15.
QLogic Corp. (NASDAQ:QLGC) last released its earnings data on Thursday, October 24th. The company reported $0.23 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.18 earnings per share. The company’s revenue for the quarter was down 4.5% on a year-over-year basis. On average, analysts predict that QLogic Corp. will post $0.78 earnings per share for the current fiscal year.
QLogic Corporation designs and supplies network infrastructure products that provide and manage computer data communication.
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