Share on StockTwits

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.

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.