New York State Teachers Retirement System increased its stake in shares of QLogic Corp. (NASDAQ:QLGC) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 269,819 shares of the company’s stock after buying an additional 7,800 shares during the period. New York State Teachers Retirement System’s holdings in QLogic Corp. were worth $3,977,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Bayesian Capital Management LP boosted its stake 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 last quarter. Chicago Capital Management LLC purchased a new stake in shares of QLogic Corp. during the second quarter worth approximately $382,000. Aperio Group LLC boosted its stake in shares of QLogic Corp. by 10.3% in the first quarter. Aperio Group LLC now owns 31,070 shares of the company’s stock worth $418,000 after buying an additional 2,893 shares in the last quarter. Invictus RG boosted its stake in shares of 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 in the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of QLogic Corp. by 47.6% in the second quarter. BNP Paribas Arbitrage SA now owns 42,975 shares of the company’s stock worth $633,000 after buying an additional 13,851 shares in the last quarter.
QLogic Corp. (NASDAQ:QLGC) remained flat at $16.07 during trading on Friday. The company has a 50-day moving average of $15.28 and a 200 day moving average of $13.75. QLogic Corp. has a one year low of $8.81 and a one year high of $16.14.
QLogic Corp. (NASDAQ:QLGC) last posted its quarterly earnings data on Tuesday, July 26th. The company reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.04. The company had revenue of $116.40 million for the quarter, compared to analysts’ expectations of $115.60 million. During the same period in the prior year, the company posted $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 subject of a number of research reports. Pacific Crest cut QLogic Corp. to a “hold” rating in a research report on Thursday, June 16th. Barclays PLC reaffirmed a “hold” rating and set a $13.00 price target on shares of QLogic Corp. in a research report on Thursday, June 16th. 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. DA Davidson reaffirmed a “hold” rating and set a $15.50 price target on shares of QLogic Corp. in a research report on Saturday, June 18th. Finally, Argus cut QLogic Corp. from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research report on Friday, June 17th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.90.
In other news, VP Anthony Carrozza sold 5,977 shares of the company’s 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 owns 10,792 shares of the company’s stock, valued at $166,844.32. The transaction was disclosed in a 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.