Emulex Director Purchases $93,600 in Stock (ELX)
Emulex (NYSE:ELX) Director Bruce C. Edwards bought 20,000 shares of Emulex stock in a transaction that occurred on Tuesday, May 6th. The shares were purchased at an average cost of $4.68 per share, for a total transaction of $93,600.00. Following the purchase, the director now directly owns 102,360 shares in the company, valued at approximately $479,045. The transaction was disclosed in a filing with the SEC, which is available at this link.
A number of analysts have recently weighed in on ELX shares. Analysts at Davidson downgraded shares of Emulex to an “underperform” rating in a research note on Friday. Separately, analysts at Summit Research downgraded shares of Emulex from a “buy” rating to a “hold” rating in a research note on Thursday, May 1st. Finally, analysts at DA Davidson downgraded shares of Emulex from a “neutral” rating to an “underperform” rating in a research note on Thursday, May 1st. They now have a $5.00 price target on the stock, down previously from $10.00. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.15.
Shares of Emulex (NYSE:ELX) traded up 1.95% on Tuesday, hitting $4.70. The stock had a trading volume of 5,672,200 shares. Emulex has a 52-week low of $4.51 and a 52-week high of $8.99. The stock’s 50-day moving average is $7.05 and its 200-day moving average is $7.2. The company’s market cap is $380.2 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 $0.54 earnings per share for the current fiscal year.
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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