Analyst Rating Update on QLogic Corporation (QLGC)

QLogic Corporation (NASDAQ:QLGC) : 5 analysts are covering QLogic Corporation (NASDAQ:QLGC) and their average rating on the stock is 3, which is read as a Hold. A Zacks Investment Research rank of 3, which recommends a Hold affirms that they expect a large upside in the stock from the current levels. A total of 5 brokerage firms believe that the stock is fairly valued, hence they advise a Hold on the stock.

QLogic Corporation (NASDAQ:QLGC) : 2 Wall Street analysts covering QLogic Corporation (NASDAQ:QLGC) believe that the average level the stock could reach for the short term is $14.25. The maximum price target given is $16 and the minimum target for short term is around $13, hence the standard deviation is calculated at $1.77.

Company shares have received an average consensus rating of Hold for the current week Also, Argus Research downgrades 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 Hold by the stock experts at the ratings house. Earlier, the shares had a rating of Buy. The rating by the firm was issued on June 17, 2016.

QLogic Corporation (NASDAQ:QLGC): stock turned positive on Tuesday. Though the stock opened at $14.54, the bulls momentum made the stock top out at $14.67 level for the day. The stock recorded a low of $14.51 and closed the trading day at $14.65, in the green by 1.24%. The total traded volume for the day was 2,613,597. The stock had closed at $14.47 in the previous days trading.

In an insider trading activity, The officer (Senior VP – WW Sales), of Qlogic Corp, Carrozza Anthony had unloaded 1,460 shares at $13.53 per share in a transaction on May 10, 2016. The total value of transaction was $19,754. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

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.

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