Caris & Co. Analysts Begin Coverage on QLogic (QLGC)

By admin | 6 years ago

Equities researchers at Caris & Co. assumed coverage on shares of QLogic (NASDAQ: QLGC) in a report issued on Friday. The firm set an “above average” rating on the stock.

Shares of QLogic opened at 15.26 on Friday. QLogic has a one year low of $11.95 and a one year high of $19.00. The company has a market cap of $1.510 billion and a P/E ratio of 6.84.

QLogic last issued its quarterly earnings data on Thursday, May 3rd. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. On average, analysts predict that QLogic will post $0.33 earnings per share next quarter.

Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets reiterated a “market perform” rating on shares of QLogic in a research note to investors on Friday. Separately, analysts at Needham & Company cut their price target on shares of QLogic from $21.00 to $19.00 in a research note to investors on Friday. They now have a “buy” rating on the stock. Finally, analysts at Caris & Company initiated coverage on shares of QLogic in a research note to investors on Thursday. They set an “average” rating on the stock.

QLogic Corporation (QLogic) designs and supplies network infrastructure connectivity products that provide, enhance and manage computer data communication.

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