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QLogic (QLGC) in Focus: Stock Moves 9.3% Higher in Session


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QLogic Corp. QLGC was a big mover last session, as the company saw its shares rise more than 9% on the day.  Shares moved up after the company agreed to be acquired by chip maker Cavium for $1.36 billion. This led to solid volume too with far more shares changing hands than in a normal session. This breaks the recent trend of the company, as the stock is now trading above the volatile price range of $12.95 to $13.93 the past one-month time frame.

None of the estimates for this Computer-Networks industry stock were revised over the past 30 days. The Zacks Consensus Estimate also remained unchanged over the same time frame. Yesterday's price action is encouraging though, so make sure to keep a close watch on this firm in the near future.

QLogic has a Zacks Rank #3 (Hold), while its Earnings ESP is 0.00%.

QLOGIC CORP Price

QLOGIC CORP Price | QLOGIC CORP Quote

However, a better-ranked stock in the same space is Extreme Networks Inc. EXTR , sporting a Zacks Rank #1 (Strong Buy).

Is QLGC going up? Or down? Predict to see what others think: Up or Down

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QLOGIC CORP (QLGC): Free Stock Analysis Report

EXTREME NETWRKS (EXTR): Free Stock Analysis Report

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.



This article appears in: Investing , Investing Ideas , Stocks
Referenced Symbols: EXTR


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