Company Shares of QLogic Corporation Rally 10.9%

QLogic Corporation (NASDAQ:QLGC) has climbed 10.9% in the past week and advanced 11.65% in the last 4 weeks. In the past week, the company has outperformed the S&P 500 by 12.23% and the outperformance has advanced to 10.64% for the last 4 weeks period.

QLogic Corporation (NASDAQ:QLGC): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $14.81 and $14.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $14.86. The buying momentum continued till the end and the stock did not give up its gains. It closed at $14.85, notching a gain of 0.34% for the day. The total traded volume was 15,340,251 . The stock had closed at $14.80 on the previous day.

The company shares have dropped -3.95% from its 1 Year high price. On Jun 19, 2015, the shares registered one year high at $15.55 and the one year low was seen on Jul 31, 2015. The 50-Day Moving Average price is $13.47 and the 200 Day Moving Average price is recorded at $12.83.

On the companys insider trading activities,The officer (Senior VP – WW Sales) of Qlogic Corp, Carrozza Anthony sold 1,460 shares at $13.53 on May 10, 2016. The Insider selling transaction had a total value worth of $19,754. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Many analysts have stated their opinion on the company shares. Major Brokerage house, Argus Research downgrades its ratings on QLogic Corporation (NASDAQ:QLGC). According to the latest information available, the shares are now rated Hold by the analysts at the agency. Previously, the analysts had a Buy rating on the shares. The rating by the firm was issued on June 17, 2016. Currently the company Insiders own 1.4% of QLogic Corporation shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -14.94% . Institutional Investors own 87.93% of QLogic Corporation shares. During last six month period, the net percent change held by insiders has seen a change of -14.94%.

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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