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