Insider Selling: Perry Mulligan Sells 13,853 Shares of Emulex Stock (ELX)
Emulex (NYSE:ELX) SVP Perry Mulligan sold 13,853 shares of Emulex stock in a transaction dated Monday, August 18th. The shares were sold at an average price of $5.29, for a total value of $73,282.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Emulex (NYSE:ELX) opened at 5.37 on Friday. Emulex has a one year low of $4.51 and a one year high of $8.33. The stock has a 50-day moving average of $5.4 and a 200-day moving average of $6.21. The company’s market cap is $410.6 million.
Emulex (NYSE:ELX) last released its earnings data on Thursday, August 7th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.04. The company had revenue of $99.80 million for the quarter, compared to the consensus estimate of $96.65 million. During the same quarter in the previous year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was down 17.1% on a year-over-year basis. Analysts expect that Emulex will post $0.50 EPS for the current fiscal year.
Separately, analysts at Barclays downgraded shares of Emulex from an “equal weight” rating to an “underweight” rating in a research note on Monday, August 4th. They now have a $6.00 price target on the stock, down previously from $7.00. Five analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $6.63.
Emulex Corporation (NYSE:ELX) is a provider of a range of network convergence solutions that connect servers, storage, and networks within the data center.
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