Needham & Company Maintains a 'Buy' on QLogic (QLGC); Positive Meeting with Management
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Price: $16.07 --0%
Rating Summary:
5 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
Rating Summary:
5 Buy, 11 Hold, 3 Sell
Rating Trend: = Flat
Today's Overall Ratings:
Up: 12 | Down: 23 | New: 22
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Needham & Company maintains a 'Buy' on QLogic (NASDAQ: QLGC) price target raised $2 to $21.
Analyst, Glenn Hanus, said, "We hosted QLGC (CFO) in NYC on 3/8 for investor meetings. Overall, QLGC appeared upbeat, making a cogent argument for stability in its core FC market, augmented over the next few quarters or so by incremental growth drivers including: 10GE related (FCoE, NIC) ramp tied to current Romley introduction; growth in converged switching (ASICs, modules) at Tier 1 OEMs; a $100M (by ‘13/14) TAM opportunity in 16G FC “target” side ASICs/boards (beginning C2H); and an adjacent I/O market opportunity (likely Flash related) to be announced shortly – contributing in 1HC’13. Combined, these drivers suggest QLGC could see stronger rev. growth in ’13 -- possibly 10%, in our view, vs. 5% (Street) in ’12."
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 $17.36 yesterday.
Analyst, Glenn Hanus, said, "We hosted QLGC (CFO) in NYC on 3/8 for investor meetings. Overall, QLGC appeared upbeat, making a cogent argument for stability in its core FC market, augmented over the next few quarters or so by incremental growth drivers including: 10GE related (FCoE, NIC) ramp tied to current Romley introduction; growth in converged switching (ASICs, modules) at Tier 1 OEMs; a $100M (by ‘13/14) TAM opportunity in 16G FC “target” side ASICs/boards (beginning C2H); and an adjacent I/O market opportunity (likely Flash related) to be announced shortly – contributing in 1HC’13. Combined, these drivers suggest QLGC could see stronger rev. growth in ’13 -- possibly 10%, in our view, vs. 5% (Street) in ’12."
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 $17.36 yesterday.
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