On a relative basis, the stock has outperformed the S&P 500 by 9% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 1.23% in the last 1 week, and is up 10.75% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The company shares have rallied 27.08% 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 $14.18 and the 200 Day Moving Average price is recorded at $13.06.
The stock has recorded a 20-day Moving Average of 2.73% and the 50-Day Moving Average is 7.51%.
QLogic Corporation (NASDAQ:QLGC): stock turned positive on Friday. Though the stock opened at $14.81, the bulls momentum made the stock top out at $14.94 level for the day. The stock recorded a low of $14.61 and closed the trading day at $14.83, in the green by 0.47%. The total traded volume for the day was 605,212. The stock had closed at $14.76 in the previous days trading.
In an insider trading activity, Carrozza Anthony, officer (Senior VP – WW Sales) of Qlogic Corp, unloaded 1,460 shares at an average price of $13.53 on May 10, 2016. The total amount of the transaction was worth $19,754, according to the disclosed information with 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.