QLogic Corporation (QLGC) : Traders are bullish on QLogic Corporation (QLGC) as it has outperformed the S&P 500 by a wide margin of 2.5% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 2.31%, 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 2.24% in the last 1 week, and is up 5.94% 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 3.29% and the 50-Day Moving Average is 7.71%. QLogic Corp. is up 18.56% in the last 3-month period. Year-to-Date the stock performance stands at 27.21%.
QLogic Corporation (NASDAQ:QLGC): On Fridays trading session , Opening price of the stock was $15.32 with an intraday high of $15.58. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $15.28. However, the stock managed to close at $15.52, a loss of 0.58% for the day. On the previous day, the stock had closed at $15.61. The total traded volume of the day was 2,028,582 shares.
Also, In a research note released to the investors, Barclays maintains its rating on QLogic Corporation (NASDAQ:QLGC).The analysts at the brokerage house have a current rating of Equalweight on the shares. In a recent information released to the investors, Barclays lowers the new price target from $13 per share to $15 per share. 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.