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Equities research analysts at RBC Capital lowered their target price on shares of Emulex (NYSE:ELX) from $8.00 to $7.00 in a research note issued to investors on Thursday, ARN reports. The firm currently has a “sector perform” rating on the stock. RBC Capital’s price target suggests a potential upside of 49.57% from the company’s current price.

Shares of Emulex (NYSE:ELX) traded down 5.65% during mid-day trading on Thursday, hitting $4.68. 6,479,611 shares of the company’s stock traded hands. Emulex has a one year low of $4.51 and a one year high of $8.99. The stock’s 50-day moving average is $7.20 and its 200-day moving average is $7.32. The company’s market cap is $378.5 million.

Emulex (NYSE:ELX) last announced its earnings results on Wednesday, April 30th. The company reported $0.15 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.15. The company had revenue of $109.70 million for the quarter, compared to the consensus estimate of $112.95 million. On average, analysts predict that Emulex will post $0.55 earnings per share for the current fiscal year.

Several other analysts have also recently commented on the stock. Analysts at Davidson initiated coverage on shares of Emulex in a research note on Friday, March 14th. They set a “buy” rating and a $10.00 price target on the stock. Analysts at DA Davidson initiated coverage on shares of Emulex in a research note on Thursday, March 13th. They set a “buy” rating and a $10.00 price target on the stock. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $7.00.

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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