Insider Selling: Paul F. Folino Sells 28,000 Shares of Emulex Stock (ELX)
Emulex (NYSE:ELX) Director Paul F. Folino sold 28,000 shares of the stock on the open market in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $5.47, for a total transaction of $153,160.00. Following the sale, the director now directly owns 46,060 shares of the company’s stock, valued at approximately $251,948. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Emulex (NYSE:ELX) traded up 3.28% during mid-day trading on Tuesday, hitting $5.66. The stock had a trading volume of 1,622,334 shares. Emulex has a 52 week low of $4.51 and a 52 week high of $8.33. The stock has a 50-day moving average of $5.41 and a 200-day moving average of $6.13. The company’s market cap is $401.7 million.
Emulex (NYSE:ELX) last issued its quarterly 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 equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price 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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