QLogic Receives Consensus Rating of “Hold” from Analysts (NASDAQ:QLGC)
QLogic (NASDAQ:QLGC) has received an average rating of “Hold” from the nine analysts that are currently covering the stock, AnalystRatings.Net reports. One research analyst has rated the stock with a sell rating and six have issued a hold rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $12.00.
QLogic (NASDAQ:QLGC) opened at 8.92 on Monday. QLogic has a 52 week low of $8.70 and a 52 week high of $13.07. The stock has a 50-day moving average of $9.49 and a 200-day moving average of $10.65. The company’s market cap is $783.3 million.
QLogic (NASDAQ:QLGC) last issued its quarterly earnings data on Thursday, July 24th. The company reported $0.21 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.18 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. Analysts expect that QLogic will post $0.92 EPS for the current fiscal year.
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.
QLogic Corporation, designs and supplies network infrastructure products that provide, enhance and manage computer data communication.
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