Price Target Update on QLogic Corporation (NASDAQ:QLGC)

QLogic Corporation (NASDAQ:QLGC) : 2 Wall Street analysts covering QLogic Corporation (NASDAQ:QLGC) believe that the average level the stock could reach for the short term is $14.25. The maximum price target given is $16 and the minimum target for short term is around $13, hence the standard deviation is calculated at $1.77.

Other Equity analysts have also commented 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.

QLogic Corporation (NASDAQ:QLGC): stock turned positive on Thursday. Though the stock opened at $14.85, the bulls momentum made the stock top out at $14.91 level for the day. The stock recorded a low of $14.81 and closed the trading day at $14.87, in the green by 0.54%. The total traded volume for the day was 4,266,650. The stock had closed at $14.79 in the previous days trading.

The company shares have dropped -3.14% from its 1 Year high price. On Jun 25, 2015, the shares registered one year high at $15.47 and the one year low was seen on Jul 31, 2015. The 50-Day Moving Average price is $13.64 and the 200 Day Moving Average price is recorded at $12.87. 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.

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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