Nationwide Fund Advisors cut its position in shares of QLogic Corp. (NASDAQ:QLGC) by 30.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 127,652 shares of the company’s stock after selling 56,324 shares during the period. Nationwide Fund Advisors owned about 0.15% of QLogic Corp. worth $1,882,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bayesian Capital Management LP boosted 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 worth $281,000 after buying an additional 7,300 shares during the period. Invictus RG boosted its position in QLogic Corp. by 30.0% in the first quarter. Invictus RG now owns 31,891 shares of the company’s stock worth $429,000 after buying an additional 7,360 shares during the period. A.R.T. Advisors LLC boosted its position in QLogic Corp. by 6.9% in the first quarter. A.R.T. Advisors LLC now owns 63,562 shares of the company’s stock worth $854,000 after buying an additional 4,100 shares during the period. BlackRock Group LTD boosted its position in QLogic Corp. by 7.4% in the first quarter. BlackRock Group LTD now owns 98,974 shares of the company’s stock worth $1,330,000 after buying an additional 6,817 shares during the period. Finally, Barrow Hanley Mewhinney & Strauss LLC boosted its position in QLogic Corp. by 144.9% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 470,158 shares of the company’s stock worth $6,930,000 after buying an additional 278,178 shares during the period.
QLogic Corp. (NASDAQ:QLGC) remained flat at $16.07 during mid-day trading on Friday. The firm has a 50-day moving average of $15.28 and a 200-day moving average of $13.75. QLogic Corp. has a 1-year low of $8.81 and a 1-year high of $16.14.
QLogic Corp. (NASDAQ:QLGC) last announced its earnings results on Tuesday, July 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.25 by $0.04. The business had revenue of $116.40 million for the quarter, compared to analyst estimates of $115.60 million. During the same quarter in the previous year, the company earned $0.19 EPS. The business’s revenue for the quarter was up 2.6% on a year-over-year basis. On average, equities research analysts forecast that QLogic Corp. will post $1.09 earnings per share for the current fiscal year.
A number of research analysts have recently issued reports on QLGC shares. Zacks Investment Research upgraded shares of QLogic Corp. from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research note on Monday, August 1st. Argus cut shares of QLogic Corp. from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Friday, June 17th. Barclays PLC lifted their target price on shares of QLogic Corp. from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday, July 7th. Finally, DA Davidson reiterated a “hold” rating and issued a $15.50 target price on shares of QLogic Corp. in a research note on Saturday, June 18th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $14.90.
In related news, VP Anthony Carrozza sold 5,977 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $15.46, for a total transaction of $92,404.42. Following the sale, the vice president now owns 10,792 shares in the company, valued at approximately $166,844.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
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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