Capital Fund Management S.A. bought a new stake in shares of QLogic Corp. (NASDAQ:QLGC) during the second quarter, Holdings Channel reports. The firm bought 12,537 shares of the company’s stock, valued at approximately $185,000.
A number of other institutional investors have also added to or reduced their stakes in the stock. Meeder Asset Management Inc. acquired a new position in QLogic Corp. during the second quarter valued at approximately $229,000. Bayesian Capital Management LP raised its position in QLogic Corp. by 53.7% in the first quarter. Bayesian Capital Management LP now owns 20,900 shares of the company’s stock valued at $281,000 after buying an additional 7,300 shares during the last quarter. Lucus Advisors LLC acquired a new position in QLogic Corp. during the second quarter valued at approximately $344,000. Chicago Capital Management LLC acquired a new position in QLogic Corp. during the second quarter valued at approximately $382,000. Finally, Aperio Group LLC raised its position in QLogic Corp. by 10.3% in the first quarter. Aperio Group LLC now owns 31,070 shares of the company’s stock valued at $418,000 after buying an additional 2,893 shares during the last quarter.
Shares of QLogic Corp. (NASDAQ:QLGC) remained flat at $16.07 during midday trading on Monday. QLogic Corp. has a one year low of $8.81 and a one year high of $16.14. The company has a 50 day moving average price of $15.28 and a 200-day moving average price of $13.75.
QLogic Corp. (NASDAQ:QLGC) last released its earnings results on Tuesday, July 26th. The company reported $0.29 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.25 by $0.04. The business earned $116.40 million during the quarter, compared to analysts’ expectations of $115.60 million. QLogic Corp.’s revenue for the quarter was up 2.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 EPS. On average, analysts expect that QLogic Corp. will post $1.09 EPS for the current fiscal year.
Several research firms recently commented on QLGC. Barclays PLC upped their target price on QLogic Corp. from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, July 7th. Zacks Investment Research raised QLogic Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Monday, August 1st. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $14.90.
In other news, VP Anthony Carrozza sold 5,977 shares of the stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $15.46, for a total value of $92,404.42. Following the completion of the sale, the vice president now owns 10,792 shares in the company, valued at $166,844.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
About QLogic Corp.
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 Company’s products are used in enterprise, managed service provider, consumer Web, and cloud service provider data centers, along with other environments dependent on data networking.
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