Analyst Rating Update on QLogic Corporation (QLGC)

QLogic Corporation (QLGC) : Zacks Investment Research ranks QLogic Corporation (QLGC) as 1, which is a Strong Buy recommendation. A total of 4 analysts believe that the stock has a limited upside, hence they advise a Hold. The average broker rating of 4 research analysts is 3, which indicates as a Hold.

Company shares have received an average consensus rating of Hold for the current week 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 (NASDAQ:QLGC): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.44 and $15.44 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.66. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.61, notching a gain of 1.17% for the day. The total traded volume was 2,930,453 . The stock had closed at $15.43 on the previous day.

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.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.