Todays Report: The Emerald Acquisition Ltd. Invests $906,000 in QLogic Corp. (QLGC)

The Emerald Acquisition Ltd. Invests $906,000 in QLogic Corp. (QLGC)

Emerald Acquisition Ltd. bought a new position in QLogic Corp. (NASDAQ:QLGC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 61,460 shares of the company’s stock, valued at approximately $906,000. Emerald Acquisition Ltd. owned about 0.07% of QLogic Corp. at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Capital Fund Management S.A. acquired a new position in QLogic Corp. during the second quarter worth $185,000. Meeder Asset Management Inc. purchased a new position in shares of QLogic Corp. during the second quarter worth approximately $229,000. Bayesian Capital Management LP raised its position in shares of 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 in the last quarter. Lucus Advisors LLC purchased a new position in shares of QLogic Corp. during the second quarter worth approximately $344,000. Finally, Chicago Capital Management LLC purchased a new position in shares of QLogic Corp. during the second quarter worth approximately $382,000.

QLogic Corp. (NASDAQ:QLGC) remained flat at $16.07 during mid-day trading on Wednesday. QLogic Corp. has a 12 month low of $8.81 and a 12 month high of $16.14. The company’s 50 day moving average is $15.28 and its 200-day moving average is $13.75.

QLogic Corp. (NASDAQ:QLGC) last issued its quarterly earnings results on Tuesday, July 26th. The company reported $0.29 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 the consensus estimate of $115.60 million. The business’s revenue was up 2.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.19 earnings per share. On average, equities research analysts anticipate that QLogic Corp. will post $1.09 earnings per share for the current year.

QLGC has been the topic of a number of research reports. Argus lowered QLogic Corp. from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Friday, June 17th. Pacific Crest lowered QLogic Corp. to a “hold” rating in a report on Thursday, June 16th. Barclays PLC reaffirmed a “hold” rating and issued a $13.00 price objective on shares of QLogic Corp. in a report on Thursday, June 16th. DA Davidson reaffirmed a “hold” rating and issued a $15.50 price objective on shares of QLogic Corp. in a report on Saturday, June 18th. Finally, Zacks Investment Research raised QLogic Corp. from a “hold” rating to a “buy” rating and set a $17.00 price objective on the stock in a report on Monday, August 1st. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $14.90.

In related news, VP Anthony Carrozza sold 5,977 shares of QLogic Corp. stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $15.46, for a total transaction of $92,404.42. Following the sale, the vice president now directly owns 10,792 shares in the company, valued at $166,844.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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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