Insider Selling: Emulex Corp. Director Sells 150,000 Shares of Stock (ELX)
Emulex Corp. (NYSE:ELX) Director James M. Mccluney unloaded 150,000 shares of the stock on the open market in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $7.32, for a total value of $1,098,000.00. Following the completion of the sale, the director now directly owns 240,427 shares of the company’s stock, valued at approximately $1,759,926. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Emulex Corp. (NYSE:ELX) traded down 0.55% during mid-day trading on Wednesday, hitting $7.27. The stock had a trading volume of 1,417,104 shares. Emulex Corp. has a 52 week low of $5.72 and a 52 week high of $8.99. The stock’s 50-day moving average is $7. and its 200-day moving average is $7.53. The company’s market cap is $631.6 million.
Emulex Corp. (NYSE:ELX) last released its earnings data on Thursday, January 30th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.04. The company had revenue of $123.00 billion for the quarter, compared to the consensus estimate of $120.57 billion. Analysts expect that Emulex Corp. will post $0.66 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at JPMorgan Chase & Co. raised their price target on shares of Emulex Corp. from $8.00 to $8.50 in a research note to investors on Friday, January 31st. They now have an “underweight” rating on the stock. Separately, analysts at BMO Capital Markets raised their price target on shares of Emulex Corp. from $8.00 to $8.50 in a research note to investors on Friday, January 31st. They now have a “market perform” rating on the stock. Finally, analysts at Bank of America Corp. upgraded shares of Emulex Corp. from a “neutral” rating to a “buy” rating in a research note to investors on Thursday, January 16th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $8.00.
Emulex Corporation (NYSE:ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.
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