Stephens Starts Stock Coverage on QLogic (QLGC)

By admin | 6 years ago

Research analysts at Stephens began coverage on shares of QLogic (NASDAQ: QLGC) in a report released on Thursday. The firm set an “equal weight” rating on the stock.

QLogic traded up 0.79% on Thursday, hitting $13.96. QLogic has a 1-year low of $11.95 and a 1-year high of $19.00. The company has a market cap of $1.382 billion and a price-to-earnings ratio of 6.21.

QLogic last issued its quarterly 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. On average, analysts predict that QLogic will post $0.31 earnings per share next quarter.

QLGC has been the subject of a number of other recent research reports. Analysts at Goldman Sachs (NYSE: GS) reiterated a “neutral” rating on shares of QLogic in a research note to investors on Friday, May 4th. Separately, analysts at Caris & Co. initiated coverage on shares of QLogic in a research note to investors on Friday, May 4th. They set an “above average” rating on the stock. Finally, analysts at BMO Capital Markets reiterated a “market perform” rating on shares of QLogic in a research note to investors on Friday, May 4th.

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

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