Goldman Sachs Cuts Numbers on QLogic (QLGC) After Q4
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Price: $9.63 -0.52%
Rating Summary:
5 Buy, 11 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Rating Summary:
5 Buy, 11 Hold, 4 Sell
Rating Trend:
Down
Today's Overall Ratings:
Up: 13 | Down: 25 | New: 24
Trade QLGC Now!
Goldman Sachs cut its price target on Neutral-rated QLogic (NASDAQ: QLGC) from $17 to $15 following Q4 results which missed on the top line as a pause in server demand ahead of the Romley launch hurt results.
"After the company’s cautious guidance, we believe that the uncertainty around the trajectory of the Romley ramp could keep a lid on shares. While the company could benefit from Emulex's litigation woes later this year, the scope of this benefit is not yet clear," the analyst said.
FY12 EPS goes from $1.05 to $1.10, FY13 goes from $1.17 to $1.07 and FY14 goes from $1.25 to $1.38.
For an analyst ratings summary and ratings history on QLogic click here. For more ratings news on QLogic click here.
Shares of QLogic closed at $16.86 yesterday, with a 52 week range of $11.95-$19.00.
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"After the company’s cautious guidance, we believe that the uncertainty around the trajectory of the Romley ramp could keep a lid on shares. While the company could benefit from Emulex's litigation woes later this year, the scope of this benefit is not yet clear," the analyst said.
FY12 EPS goes from $1.05 to $1.10, FY13 goes from $1.17 to $1.07 and FY14 goes from $1.25 to $1.38.
For an analyst ratings summary and ratings history on QLogic click here. For more ratings news on QLogic click here.
Shares of QLogic closed at $16.86 yesterday, with a 52 week range of $11.95-$19.00.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
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