QLogic VP Roger J. Klein Unloads 3,121 Shares (QLGC)
QLogic (NASDAQ:QLGC) VP Roger J. Klein sold 3,121 shares of the stock on the open market in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $10.28, for a total value of $32,083.88. Following the completion of the sale, the vice president now directly owns 5,000 shares in the company, valued at approximately $51,400. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on QLGC. Analysts at TheStreet downgraded shares of QLogic from a “buy” rating to a “hold” rating in a research note on Tuesday, May 6th. Separately, analysts at Aegis downgraded shares of QLogic from a “buy” rating to a “hold” rating in a research note on Friday, May 2nd. Finally, analysts at Piper Jaffray raised their price target on shares of QLogic from $11.00 to $12.00 in a research note on Friday, May 2nd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $12.50.
Shares of QLogic (NASDAQ:QLGC) traded up 0.39% on Monday, hitting $10.22. The stock had a trading volume of 381,819 shares. QLogic has a 52 week low of $9.29 and a 52 week high of $13.07. The stock has a 50-day moving average of $10.39 and a 200-day moving average of $11.42. The company’s market cap is $891.2 million.
QLogic (NASDAQ:QLGC) last announced its earnings results on Thursday, May 1st. The company reported $0.24 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.22 by $0.02. The company had revenue of $115.70 million for the quarter, compared to the consensus estimate of $113.30 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s quarterly revenue was down 1.0% on a year-over-year basis. On average, analysts predict that QLogic will post $0.95 earnings per share for the current fiscal year.
QLogic Corporation, designs and supplies network infrastructure products that provide, enhance and manage computer data communication.
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