QLogic Corporation (QLGC) : Traders are bullish on QLogic Corporation (QLGC) as it has outperformed the S&P 500 by a wide margin of 6.05% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.72%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.78% in the last 1 week, and is up 7.15% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 3.81% and the 50-Day Moving Average is 8.16%. QLogic Corporation (NASDAQ:QLGC): stock turned positive on Friday. Though the stock opened at $15.91, the bulls momentum made the stock top out at $16.05 level for the day. The stock recorded a low of $15.88 and closed the trading day at $16.04, in the green by 0.82%. The total traded volume for the day was 1,142,733. The stock had closed at $15.91 in the previous days trading.
The company Insiders own 1.4% of QLogic Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -35.64% . Institutional Investors own 82.89% of QLogic Corporation shares. During last six month period, the net percent change held by insiders has seen a change of 10.43%. Also, Barclays maintains its view on QLogic Corporation (NASDAQ:QLGC) according to the research report released by the firm to its investors. The shares have now been rated Equalweight by the stock experts at the ratings house. Barclays lowers the price target from $13 per share to $15 per share on QLogic Corporation. The rating by the firm was issued on July 7, 2016.
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 Companys 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 Companys products are based primarily on Fiber Channel and Ethernet technologies and are used in connection with storage networks, local area networks, and converged networks.