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QLogic (NASDAQ:QLGC) shares hit a new 52-week low on Friday , AnalystRatings.NET reports. The company traded as low as $9.46 and last traded at $9.52, with a volume of 1,840,860 shares changing hands. The stock had previously closed at $10.54.

Several analysts have recently commented on the stock. Analysts at Barclays reiterated an “overweight” rating on shares of QLogic in a research note on Friday. They now have a $13.00 price target on the stock, down previously from $14.00. Separately, analysts at Morgan Stanley upgraded shares of QLogic from an “underweight” rating to an “equal weight” rating in a research note on Friday, July 11th. Finally, analysts at Zacks upgraded shares of QLogic from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 25th. They now have a $12.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $12.50.

The stock’s 50-day moving average is $10.21 and its 200-day moving average is $11.09. The company’s market cap is $828.4 million.

QLogic (NASDAQ:QLGC) last released its earnings data on Thursday, July 24th. The company reported $0.21 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.20 by $0.01. The company had revenue of $119.40 million for the quarter, compared to the consensus estimate of $119.40 million. During the same quarter last year, the company posted $0.18 earnings per share. QLogic’s revenue was up 5.6% compared to the same quarter last year. 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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