Goldman Sachs Gives Neutral Rating to QLogic (QLGC)

By admin | 6 years ago

QLogic (NASDAQ: QLGC)‘s stock had its “neutral” rating reiterated by investment analysts at Goldman Sachs (NYSE: GS) in a note issued to investors on Friday.

QLogic opened at 15.26 on Friday. QLogic has a 1-year low of $11.95 and a 1-year high of $19.00. The company has a market cap of $1.510 billion and a price-to-earnings ratio of 6.84.

QLogic last released its earnings data on Thursday, May 3rd. The company reported $0.34 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.32 by $0.02. The company’s quarterly revenue was down 11.3% on a year-over-year basis. Analysts expect that QLogic will post $0.33 EPS next quarter.

A number of other analysts have also recently weighed in on QLGC. Analysts at Caris & Co. initiated coverage on shares of QLogic in a research note to investors on Friday. They set an “above average” rating on the stock. Separately, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of QLogic in a research note to investors on Friday. Finally, 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.

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

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