Type
|
Subsidiary |
---|---|
Industry | Computer Networking |
Founded | 1994 |
Headquarters | Aliso Viejo, California |
Key people
|
Jean Hu (CEO) |
Products | Fibre Channel adapters, converged network adapters, Ethernet adapters, iSCSI adapters, and ASICs |
Number of employees
|
1,229 (2013) |
Parent | Cavium |
Website | www |
QLogic Corporation is a manufacturer of networking server and storage networking connectivity and application acceleration products, based in Aliso Viejo, California through 2016. QLogic’s products include Fibre Channel adapters, converged network adapters for Fibre Channel over Ethernet (FCoE), Ethernet network interface controllers, iSCSI adapters, and application-specific integrated circuits (ASICs). It was a public company from 1992 to 2016.
QLogic was created in 1992 after being spun off by Emulex. QLogic's original business was disk controllers. This business was sold to Marvell Technology Group in 2005. QLogic had its initial public offering in 1994 and was traded on NASDAQ under the symbol QLGC. Originally located in a Costa Mesa, California building adjacent to Emulex, it competed against its parent company in the market for Fibre Channel controllers for storage area networks.
QLogic acquired companies including NetXen. Integrated circuit designer Silicon Design Resources Inc. based in Austin, Texas, was acquired for about $2 million in 1998. In May 2000, QLogic acquired Fibre Channel switch maker Ancor Communications for about $1.7 billion in stock. Little Mountain Group, founded in 1999 and developer of iSCSI technology, was acquired in January 2001 for about $30 million. The compiler company PathScale was acquired for about $109 million in February 2006. Silverstorm Technologies, which designed InfiniBand products, was acquired in October 2006 for about $60 million. After attempting to use PathScale for cluster computing over InfiniBand, the compiler business was sold to SiCortex in August 2006.
QLogic was led by chairman H.K. Desai from 1996, who became executive chairman in 2010 until his death in June 2014. In 2012, the InfiniBand products were sold to Intel for $125 million. Simon Biddiscombe became chief executive in November 2010, until resigning in May 2013 after two years of falling revenue. Prasad Rampalli became chief executive a few months later, until August 2015. Jean Hu became acting CEO again at that time.
QLogic announced it was being acquired by Cavium in June 2016, for about $1 billion over its balance sheet cash. After the deal closed in August 2016, job cuts were announced. It announced it would move to Irvine, California in 2017.
2016-07-07 | Boost Price Target | Barclays PLC | Equal Weight | $13.00 to $15.00 |
2016-06-18 | Reiterated Rating | DA Davidson | Hold | $15.50 |
2016-06-17 | Downgrade | Argus | Buy to Hold | $16.00 |
2016-06-16 | Reiterated Rating | Barclays | Hold | $13.00 |
2016-06-16 | Downgrade | Pacific Crest | Hold | |
2016-06-16 | Reiterated Rating | Barclays PLC | Hold | $13.00 |
2015-10-27 | Boost Price Target | Argus | Buy | $14.00 to $16.00 |
2015-10-23 | Reiterated Rating | BMO Capital Markets | Market Perform | $11.00 |
2015-08-31 | Upgrade | Summit Research | Hold to Buy | $11.00 to $13.00 |
2015-08-03 | Lower Price Target | Argus | Buy | $17.00 to $14.00 |
2015-08-02 | Reiterated Rating | BMO Capital Markets | Outperform | $12.00 |
2015-07-31 | Reiterated Rating | Barclays | Equal Weight | $15.00 to $12.00 |
2015-07-31 | Downgrade | Citigroup Inc. | Outperform to Market Perform | $10.50 |
2015-07-31 | Downgrade | Summit Research | Buy to Hold | $16.00 to $11.00 |
2015-07-31 | Downgrade | DA Davidson | Buy to Neutral | |
2015-07-31 | Downgrade | BMO Capital Markets | Outperform to Market Perform | $12.50 to $10.00 |
2015-07-23 | Downgrade | Morgan Stanley | Overweight to Equal Weight | $14.00 |
2015-07-13 | Reiterated Rating | DA Davidson | Buy | $17.00 |
2015-07-10 | Reiterated Rating | Summit Research | Buy | |
2015-07-10 | Reiterated Rating | Raymond James | Outperform | $17.00 |
2015-07-10 | Reiterated Rating | BMO Capital Markets | Outperform | $15.50 |
2015-07-10 | Reiterated Rating | Morgan Stanley | Overweight | $17.00 to $14.00 |
2015-07-10 | Lower Price Target | Argus | Buy | $19.00 to $17.00 |
2015-07-10 | Reiterated Rating | Raymond James Financial Inc. | Outperform | $17.00 |
2015-05-19 | Reiterated Rating | DA Davidson | Buy | $18.00 to $21.00 |
2015-05-09 | Reiterated Rating | BMO Capital Markets | Outperform | $16.50 to $15.50 |
2015-05-06 | Upgrade | Argus | Hold to Buy | $19.00 |
2015-05-01 | Boost Price Target | Barclays | Equal Weight | $14.00 to $15.00 |
2015-04-02 | Reiterated Rating | BMO Capital Markets | Outperform | $16.50 |
2015-01-30 | Boost Price Target | RBC Capital | Outperform | $13.00 to $15.00 |
2015-01-30 | Upgrade | BMO Capital Markets | Market Perform to Outperform | $14.50 to $15.50 |
2015-01-30 | Boost Price Target | Royal Bank Of Canada | Outperform | $13.00 to $15.00 |
2015-01-26 | Set Price Target | Summit Research | Buy | $14.00 |
2015-01-20 | Reiterated Rating | DA Davidson | Buy | |
2015-01-16 | Reiterated Rating | BMO Capital Markets | Market Perform | $14.50 |
2015-01-12 | Boost Price Target | Barclays | Equal Weight | $11.00 to $14.00 |
2014-12-30 | Initiated Coverage | DA Davidson | Buy | $17.00 |
2014-12-17 | Upgrade | Morgan Stanley | Equal Weight to Overweight | |
2014-10-17 | Reiterated Rating | Barclays | Equal Weight | $10.00 to $11.00 |
2014-10-17 | Upgrade | Summit Research | Hold to Buy | |
2014-08-04 | Downgrade | Barclays | Overweight to Equal Weight | $13.00 to $10.00 |
2014-07-25 | Reiterated Rating | Barclays | Overweight | $14.00 to $13.00 |
2014-07-11 | Upgrade | Morgan Stanley | Underweight to Equal Weight | |
2014-05-02 | Downgrade | Aegis | Buy to Hold | |
2014-05-02 | Boost Price Target | Piper Jaffray | $11.00 to $12.00 | |
2014-02-19 | Initiated Coverage | Morgan Stanley | Underweight | $10.50 |
2014-01-30 | Boost Price Target | Needham & Company LLC | $14.00 | |
2013-11-14 | Initiated | Aegis Capital | Buy | $15 |
2013-11-14 | Initiated Coverage | Aegis | Buy | $15.00 |
2013-10-25 | Boost Price Target | Needham & Company LLC | Buy | $12.00 to $13.00 |
2013-10-25 | Boost Price Target | JPMorgan Chase & Co. | Underweight | $11.50 to $12.00 |
2013-10-25 | Boost Price Target | BMO Capital Markets | Market Perform | $10.00 to $12.00 |
2013-10-25 | Reiterated Rating | Lazard Capital Markets | Neutral | |
2013-01-25 | Reiterated | Cantor Fitzgerald | Hold | $10.50 to $11.50 |
2012-10-26 | Reiterated | Cantor Fitzgerald | Hold | $13 to $10.50 |
2012-01-27 | Reiterated | Needham | Buy | $16 to $19 |
2011-01-12 | Downgrade | Canaccord Genuity | Buy to Hold | $20 to $18 |
2010-10-08 | Upgrade | Canaccord Genuity | Hold to Buy | $20 |
2010-07-23 | Downgrade | ThinkEquity | Buy to Hold | |
2010-04-08 | Downgrade | Canaccord Adams | Buy to Hold |
2016-07-07 | Boost Price Target | Barclays PLC | Equal Weight | $13.00 to $15.00 |
2016-06-18 | Reiterated Rating | DA Davidson | Hold | $15.50 |
2016-06-17 | Downgrade | Argus | Buy to Hold | $16.00 |
2016-06-16 | Reiterated Rating | Barclays | Hold | $13.00 |
2016-06-16 | Downgrade | Pacific Crest | Hold |
There is presents forecasts of rating agencies and recommendations for investors about this ticker
In QLGC 6 funds of 2213 total. Show all
Fund name | Ticker shares |
---|---|
RUSSELL FRANK CO/ | 73460 |
GREEN ARROW CAPITAL MANAGEMENT LLC | 41785 |
Dynamic Technology Lab Pte Ltd | 31513 |
VTL Associates, LLC | 25111 |
BAIRD ROBERT W & CO INC /WI/ | 16741 |
MANAGED ACCOUNT ADVISORS LLC | 9731 |
Name Relationship | Total Shares | Holding stocks |
---|---|---|
DESAI HK Executive Chairman | 0.31% (270984) | AMCC / MXL / NLST / QLGC / |
BIDDISCOMBE SIMON President and CEO | 0.06% (55496) | MOBL / QLGC / SREV / |
RAMPALLI PRASAD L. President and CEO | 0.06% (51529) | QLGC / |
LEWIS KATHRYN B | 0.03% (23780) | QLGC / |
FIEBIGER JAMES R | 0.02% (19746) | QLGC / |
CRAWFORD ROBERT Senior VP - WW Sales | 0.02% (16641) | QLGC / |
BIRNBAUM JOEL S | 0.01% (12096) | QLGC / |
Mulligan Perry Senior VP - WW Operations | 0.01% (9998) | ELX / MVIS / QLGC / |
KARNIK MILIND Senior VP, Global Engineering | 0.01% (9362) | QLGC / |