QLogic Corporation (QLGC) : Traders are bullish on QLogic Corporation (QLGC) as it has outperformed the S&P 500 by a wide margin of 3.69% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 1.12%, 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 1.55% in the last 1 week, and is up 6.27% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
QLogic Corporation (NASDAQ:QLGC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.55 and $15.48 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.77. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.76, notching a gain of 1.29% for the day. The total traded volume was 1,647,690 . The stock had closed at $15.56 on the previous day.
The stock has recorded a 20-day Moving Average of 3.45% and the 50-Day Moving Average is 7.73%. QLogic Corp. is up 15.8% in the last 3-month period. Year-to-Date the stock performance stands at 29.18%.
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.