Chicago Capital Management adds QLogic Corporation (QLGC) to its portfolio

QLogic Corporation (QLGC) : Chicago Capital Management added new position in QLogic Corporation during the most recent quarter end. The investment management firm now holds 25,885 shares of QLogic Corporation which is valued at $391,381 , the company said in a statement filed on Jul 15, 2016 with the SEC.QLogic Corporation makes up approximately 0.14% of Chicago Capital Management’s portfolio.

Other Hedge Funds, Including , Capstone Asset Management Co boosted its stake in QLGC in the latest quarter, The investment management firm added 20 additional shares and now holds a total of 24,292 shares of QLogic Corporation which is valued at $363,165. QLogic Corporation makes up approx 0.01% of Capstone Asset Management Co’s portfolio. Next Financial Group Inc added QLGC to its portfolio by purchasing 200 company shares during the most recent quarter which is valued at $5,932.Bnp Paribas Arbitrage Sa boosted its stake in QLGC in the latest quarter, The investment management firm added 13,851 additional shares and now holds a total of 42,975 shares of QLogic Corporation which is valued at $637,319.

QLogic Corporation opened for trading at $14.96 and hit $15.14 on the upside on Monday, eventually ending the session at $15.12, with a gain of 1.00% or 0.15 points. The heightened volatility saw the trading volume jump to 5,23,390 shares. Company has a market cap of $1,269 M.

On the company’s financial health, QLogic Corporation reported $0.30 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 5, 2016. Analyst had a consensus of $0.25. The company had revenue of $119.40 million for the quarter, compared to analysts expectations of $116.93 million. The company’s revenue was down -10.2 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.28 EPS.

QLogic Corporation (QLogic) designs and supplies server and storage networking connectivity products that provide and manage computer data communication. These products facilitate the transfer of data and enable resource sharing between servers networks and storage. The Company’s products are used in enterprise managed service provider consumer Web and cloud service provider data centers along with other environments dependent on data networking. It offers products in two categories: Advanced Connectivity Platforms and Legacy Connectivity Products. The advanced Connectivity Platforms consist primarily of adapters and application-specific integrated circuits (ASICs) for server and storage connectivity applications. The legacy Connectivity Products consist primarily of Fiber Channel switch products. The Company’s products are based primarily on Fiber Channel and Ethernet technologies and are used in connection with storage networks local area networks and converged networks.

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