QLogic Corp. (QLGC) Releases Q4 Earnings Guidance
QLogic Corp. (NASDAQ:QLGC) issued an update on its fourth quarter earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $0.19-0.25 for the period, compared to the Thomson Reuters consensus estimate of $0.20, Stock Ratings Network reports. The company issued revenue guidance of $110-116 million, compared to the consensus revenue estimate of $113.98 million.
QLogic Corp. (NASDAQ:QLGC) traded down 0.82% during mid-day trading on Wednesday, hitting $10.90. The stock had a trading volume of 626,803 shares. QLogic Corp. has a 1-year low of $9.29 and a 1-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 P/E ratio of 19.45.
QLogic Corp. (NASDAQ:QLGC) last issued its quarterly earnings data on Wednesday, January 29th. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.24 by $0.05. The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $117.57 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Analysts expect that QLogic Corp. will post $0.85 EPS for the current fiscal year.
A number of analysts have recently weighed in on QLGC shares. 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 analysts have rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the stock. The company has an average rating of Hold and a consensus target price of $12.05.
QLogic Corporation designs and supplies network infrastructure products that provide and manage computer data communication.
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