QLogic Corp. (QLGC) Announces Quarterly Earnings Results, Beats Estimates By $0.05 EPS
QLogic Corp. (NASDAQ:QLGC) announced its earnings results on Wednesday. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.05, Analyst Ratings Network reports. The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $117.57 million.
A number of research firms have recently commented on QLGC. Analysts at Zacks reiterated a “neutral” rating on shares of QLogic Corp. in a research note to investors on Thursday, January 2nd. They now have a $12.00 price target on the stock. Analysts at Aegis initiated coverage on shares of QLogic Corp. in a research note to investors on Thursday, November 14th. They set a “buy” rating and a $15.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $12.05.
Shares of QLogic Corp. (NASDAQ:QLGC) traded down 0.82% during mid-day trading on Wednesday, hitting $10.90. The stock had a trading volume of 624,257 shares. QLogic Corp. has a one year low of $9.29 and a one year high of $12.67. The stock has a 50-day moving average of $11.53 and a 200-day moving average of $11.41. The company has a market cap of $945.5 million and a price-to-earnings ratio of 19.45.
QLogic Corporation designs and supplies network infrastructure products that provide and manage computer data communication.
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