QLogic Hits New 52-Week Low at $8.84 (QLGC)
Shares of QLogic (NASDAQ:QLGC) hit a new 52-week low during trading on Wednesday , Analyst Ratings Net reports. The company traded as low as $8.84 and last traded at $8.84, with a volume of 387,423 shares traded. The stock had previously closed at $8.93.
A number of research firms have recently commented on QLGC. Analysts at Barclays downgraded shares of QLogic from an “overweight” rating to an “equal weight” rating in a research note on Monday, August 4th. They now have a $10.00 price target on the stock, down previously from $13.00. Finally, 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. One analyst has rated the stock with a sell rating and six have given a hold rating to the company. QLogic currently has a consensus rating of “Hold” and an average target price of $12.00.
The stock’s 50-day moving average is $9.68 and its 200-day moving average is $10.75. The company’s market cap is $777.2 million.
QLogic (NASDAQ:QLGC) last released its earnings data on Thursday, July 24th. The company reported $0.21 earnings per share (EPS) for the quarter, beating the 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 in the previous year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, analysts predict that QLogic will post $0.92 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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