QLogic Hits New 1-Year Low at $9.46 (QLGC)
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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.