QLogic Corporation (QLGC) : 4 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on QLogic Corporation (QLGC). Zacks Investment Research suggests a Buy with a rank of 2.The median of all the 4 Wall Street Analysts endorse the stock as a Hold with a rating of 3.
Company shares have received an average consensus rating of Hold for the current week QLogic Corporation (NASDAQ:QLGC): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $15.69 and $15.67 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $15.92. The buying momentum continued till the end and the stock did not give up its gains. It closed at $15.91, notching a gain of 1.40% for the day. The total traded volume was 2,311,749 . The stock had closed at $15.69 on the previous day.
In a related news, The Securities and Exchange Commission has divulged that Carrozza Anthony, officer (Senior VP – WW Sales) of Qlogic Corp, had unloaded 5,977 shares at an average price of $15.46 in a transaction dated on August 2, 2016. The total value of the transaction was worth $92,404.
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.