QLogic Receives Consensus Rating of “Hold” from Brokerages (NASDAQ:QLGC)
Shares of QLogic (NASDAQ:QLGC) have earned an average rating of “Hold” from the nine brokerages that are covering the stock, StockRatingsNetwork.com reports. One equities research analyst has rated the stock with a sell recommendation and six have issued a hold recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $12.00.
QLGC has been the subject of a number of recent research reports. 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.
Shares of QLogic (NASDAQ:QLGC) opened at 8.90 on Monday. QLogic has a 1-year low of $8.70 and a 1-year high of $13.07. The stock has a 50-day moving average of $9.60 and a 200-day moving average of $10.72. The company’s market cap is $781.6 million.
QLogic (NASDAQ:QLGC) last posted its quarterly earnings results 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 revenue for the quarter 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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