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QLogic Corporation (QLGC)

- NASDAQ
  • Jan. 15, 2013, 9:23 AM
    QLogic (QLGC) +8.3% after stating it expects to report FQ3 (Dec. quarter) revenue of ~$119M and EPS of $0.19-$0.20, above a consensus of $115.1M and $0.17. The company says it saw higher-than-expected revenue for Host products (storage adapter cards/controllers) and "particularly strong performance" for Network products (storage switches). Look for archrival Emulex (ELX) to rise in sympathy. Both companies have had a rough time over the last 9 months.
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  • Jan. 15, 2013, 9:10 AM
    Premarket gainers: EXPR +14%. QLGC +8%. SNTS +8%. RSH +6%.
    Losers: COOL -32%. GIVN -14%. BODY -12%. LULU -6%. TELK -6%. SAP -5%
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  • Jan. 8, 2013, 11:15 AM
    More on William Blair's downgrade of EMC (EMC -2.2%): Analyst Jason Ader says checks indicate EMC had trouble closing deals with large companies in Q4, something that will likely lead results to be in-line or below consensus. He's also worried about the threat posed by newer, more efficient technologies - many Internet/cloud companies have been eschewing traditional storage gear in favor of flash storage and commodity hardware. Oppenheimer and Craig-Hallum expressed concerns about EMC last week. NTAP -3.9%. BRCD -2%. ELX -1.8%. QLGC -1.7%.
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  • Dec. 10, 2012, 2:48 PM
    Emulex (ELX +3.8%) is higher thanks to an upgrade to Overweight from Stephens. Rivals QLogic (QLGC +2%) and Mellanox (MLNX +4.6%) are also up - the latter might be getting a lift from a deal to supply 40 Gb/s InfiniBand adapter cards and switches for Teradata's (TDC) Aster Big Analytics Appliance, which competes with Oracle's Big Data Appliance (it also uses Mellanox gear). Emulex fell last week after announcing it's acquiring network monitoring hardware firm Endace.
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  • Dec. 3, 2012, 11:04 AM
    Storage adapter card/switch vendors QLogic (QLGC -8.1%) and Emulex (ELX -4.8%) are down hard after receiving downgrades to Sell (I, II) from Goldman: the firm thinks QLogic's FY13 targets are at risk due to macro issues, and is worried about the impact of investment needs, macro, and litigation risk on Emulex's near-term performance. Shares of both companies have fared poorly in recent months. Mellanox (MLNX -3.2%), which competes with QLogic and Emulex in the Ethernet adapter card market, is also lower.
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  • Oct. 26, 2012, 4:42 PM
    In a sign the Street is on edge over enterprise storage demand, Quantum (QTM -9%) and Fusion-io (FIO -4.5%) sold off again today following disappointing earnings reports (I, II). In Quantum's case, the company's decision to issue $60M in convertible notes (they sport a 4.5% yield and $1.65/share conversion price) also isn't going over well. Many peers posted modest declines, though depressed QLogic and Emulex bounced following their earnings reports. (EMC guidance)
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  • Oct. 26, 2012, 2:41 PM
    Storage adapter card/switch vendors Emulex (ELX +9.7%) and QLogic (QLGC +6.3%) have trekked higher after posting their calendar Q3 reports (I, II). Both companies had fallen sharply due to weak enterprise server demand. Emulex guided for FQ2 revenue of $120M-$124M and EPS of $0.19-$0.21, largely below a consensus of $129.1M and $0.21. QLogic guided for FQ3 revenue of $112M-$118M and EPS of $0.14-$0.19, below a consensus of $126.8M and $0.23. Rival Mellanox (MLNX +1.2%) is up slightly. (ELX transcript) (QLGC transcript)
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  • Oct. 25, 2012, 5:52 PM
    QLogic (QLGC): FQ2 EPS of $0.18 in-line. Revenue of $117.9M (-13.5% Y/Y) beats by $0.4M. Shares +2.6% AH. (PR)
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  • Oct. 4, 2012, 11:12 AM
    Storage adapter card/switch vendors QLogic (QLGC -3.9%) and Emulex (ELX -6.3%) slump after Credit Suisse starts coverage with Underperform ratings. Shares of both companies have fared poorly this year, as sales of the servers that use their adapter cards remain under pressure in spite of Intel's Romley server CPU launch.
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  • Aug. 16, 2012, 4:05 PM
    NetApp's (NTAP +3.8%) FQ1 report and FQ2 guidance helped companies with enterprise storage exposure outperform. ELX +6.6%. QLGC +3.3%. BRCD +6%. QTM +6.3%. Deutsche (Buy) sees product catalysts such as Intel's Romley, new storage systems, and version 8.1 of NetApp's ONTAP OS driving shares higher, and Topeka is pleased FQ1 software/maintenance sales held up well. But Barclays thinks NetApp is still losing share to EMC (EMC +3.2%), which has carried out a big product refresh of its own. (transcript)
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  • Jul. 27, 2012, 10:14 AM
    QLogic (QLGC -21.2%) crashes after missing FQ1 estimates, and guiding on its earnings call for revenue of $115M-$120M and EPS of $0.16-$0.20, well below a consensus of $138.6M and $0.30. QLogic blames weak server sales, something that hurts demand for its storage adapter cards, as well as (unsurprisingly) macro issues. But the fact QLogic also missed top-line estimates in May suggests some of its problems are company-specific. Archrival ELX -6.6%.
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  • Jul. 26, 2012, 4:43 PM
    QLogic (QLGC): FQ1 EPS of $0.26 misses by $0.01. Revenue of $130.4M (-9.8% Y/Y) misses by $1M. (PR)
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  • Jul. 26, 2012, 12:10 AM
    Notable earnings after Thursday's close: AMGN, AMZN, APKT, ARBA, CA, CB, CBL, CERN, CINF, CLWR, CSTR, DECK, EXPE, FB, FBHS, GILD, HGSI, IM, INFA, KEG, KLAC, LEG, MCK, MXIM, PFG, QLGC, QLIK, RGC, RSG, SBUX, SPF, TLAB, UHS, VRSN
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  • Jul. 25, 2012, 5:35 PM
    Notable earnings after Thursday's close: AMGN, AMZN, APKT, ARBA, CA, CB, CBL, CERN, CINF, CLWR, CSTR, DECK, EXPE, FB, FBHS, GILD, HGSI, IM, INFA, KEG, KLAC, LEG, MCK, MXIM, PFG, QLGC, QLIK, RGC, RSG, SBUX, SPF, TLAB, UHS, VRSN
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  • Jun. 27, 2012, 9:11 AM
    Northland Securities launches coverage on the chip industry. AMD, MRVL, QLGC, BRCM, NVDA, EZCH, and ELX are started at Outperform. INTC, TXN, and PMCS are started at Market Perform.
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  • May. 4, 2012, 11:09 AM
    QLogic (QLGC -11.9%) tumbles after posting a mixed FQ4 report. BMO (Market Perform) thinks the results, together with archrival Emulex's (ELX -2.2%) uninspiring June quarter outlook, suggests a slower-than-expected ramp for Intel's (INTC) Romley server CPU platform, which many have expected will lead to a pickup in data center IT spending. The report might also be weighing on Brocade (BRCD -4%).
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Company Description
QLogic Corp is a designer and supplier of network infrastructure products that enhance, manage and support computer data communication.