Tower Research Capital LLC TRC boosted its position in shares of QLogic Corp. (NASDAQ:QLGC) by 335.4% during the second quarter, Holdings Channel reports. The fund owned 6,775 shares of the company’s stock after buying an additional 5,219 shares during the period. Tower Research Capital LLC TRC’s holdings in QLogic Corp. were worth $100,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of QLGC. Teachers Advisors Inc. raised its position in shares of QLogic Corp. by 426.4% in the first quarter. Teachers Advisors Inc. now owns 893,899 shares of the company’s stock worth $12,014,000 after buying an additional 724,101 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of QLogic Corp. by 91,525.3% in the first quarter. JPMorgan Chase & Co. now owns 614,806 shares of the company’s stock worth $8,263,000 after buying an additional 614,135 shares during the last quarter. Foundry Partners LLC raised its position in shares of QLogic Corp. by 1,740.4% in the second quarter. Foundry Partners LLC now owns 582,861 shares of the company’s stock worth $8,591,000 after buying an additional 551,191 shares during the last quarter. Societe Generale bought a new position in shares of QLogic Corp. during the second quarter worth about $6,611,000. Finally, SG Americas Securities LLC bought a new position in shares of QLogic Corp. during the second quarter worth about $6,611,000.
Shares of QLogic Corp. (NASDAQ:QLGC) opened at 16.07 on Friday. QLogic Corp. has a 1-year low of $8.81 and a 1-year high of $16.14. The stock has a 50 day moving average of $15.28 and a 200-day moving average of $13.75.
QLogic Corp. (NASDAQ:QLGC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The firm earned $116.40 million during the quarter, compared to analysts’ expectations of $115.60 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue was up 2.6% compared to the same quarter last year. Equities research analysts expect that QLogic Corp. will post $1.09 earnings per share for the current fiscal year.
QLGC has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded shares of QLogic Corp. from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Monday, August 1st. Barclays PLC upped their price target 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 restated a “hold” rating and set a $15.50 price target on shares of QLogic Corp. in a research note on Saturday, June 18th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $14.90.
In related news, VP Anthony Carrozza sold 5,977 shares of QLogic Corp. stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $15.46, for a total value of $92,404.42. Following the completion of the transaction, the vice president now owns 10,792 shares in the company, valued at $166,844.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
QLogic Corp. Company Profile
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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