Latest Stock To Watch: QLGC
QLogic Corp
Alert Price: $19.00
October 3, 2006
Recent Price Change: +3.8%
Oct 4 HOD: $19.73
InfinitiStocks issues a General Alert for QLogic Corp, a leading supplier of high performance storage networking solutions. On October 3, the company announced it intends to acquire SilverStorm Technologies, Inc, for $60 million in cash. QLogic CEO and president H.K. Desai, said, "The acquisition...will provide our customers with a leading edge, end-to-end solution...(and) will accelerate the ability of QLogic's OEM and channel partners to bring their solutions to market."
SilverStorm solutions power some of the world's largest supercomputers in Oil and Gas exploration, Automotive and Aerospace design, Financial Services, Bio Medical and Government Research. Customers include AMD, Canon, Chevron, Intel, Lockheed Martin, NASA, Riken Research Institute, Sandia National Laboratories, Sun Microsystems, Toyota, the US DoD, and Virginia Tech University. Russ Hawkins, SilverStorm CEO, stated, "SilverStorm's industry leading technology and QLogic's strong market presence will drive our expanded market share growth."
InfinitiStocks notes impressive analyst rankings for Q, including a recent JP Morgan upgrade to Overweight, and a Friedman Billings upgrade to Outperform. In addition to a favorable ROE (12.7%) and 51% profit margin, growth estimates for the current quarter are 29.4%, with 22.2% expected for the current year. Overall growth for the sector is rated at 12.5%.
Oct 3: QLogic to Acquire SilverStorm Technologies
Oct 3: QLogic to Announce Second Quarter Results
