QLogic Corporation (QLGC) : Analyst Rating Update

QLogic Corporation (QLGC) : The consensus on QLogic Corporation (QLGC) based on 5 analyst recommendation on the company stock is 3, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 5 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating.

QLogic Corporation (QLGC) : The highest short term price target forecast on QLogic Corporation (QLGC) is $16 and the lowest target price is $13. A total of 2 equity analysts are currently covering the company. The average price of all the analysts is $14.25 with a standard deviation of $1.77.

QLogic Corporation (NASDAQ:QLGC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.53 and $14.51 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.84. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.81, notching a gain of 1.93% for the day. The total traded volume was 1,107,896 . The stock had closed at $14.53 on the previous day.

Also, Equity Analysts at the Argus Research downgrades the rating on QLogic Corporation (NASDAQ:QLGC). The brokerage firm has issued a Hold rating on the shares. The shares were previously rated Buy. The rating by the firm was issued on June 17, 2016. The company shares have rallied 3.93% from its 1 Year high price. On Jun 16, 2016, the shares registered one year high at $15.00 and the one year low was seen on Jul 31, 2015. The 50-Day Moving Average price is $14.03 and the 200 Day Moving Average price is recorded at $13.01.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.