August 23, 1997 |
Shares of QLogic Corp. jumped 12% Friday on what the company believes may be continuing interest from its public offering, which raised more than $78 million last week. The company's stock gained $4.38 a share to close at $40.88 on heavy Nasdaq trading. Executives at the company, which designs and markets semiconductor products, had no other explanation for the big jump except the Aug. 13 public offering of 2.6 million shares.
January 11, 2000 |
QLogic Corp., which makes integrated circuits and adapter boards for computers, said Monday that it has acquired a Florida company for $7.5 million cash, and will record an unspecified write-off related to the purchase. The Costa Mesa company bought Borg Adaptive Technologies Inc. from NStor Technologies Inc. in West Palm Beach. QLogic said in a press release that it will take the write-off in its fourth quarter and that the write-off will have a material effect on its quarterly results.
August 5, 1998 |
Funds managed by Jeffrey Vinik acquired a 6.3% stake in QLogic Corp. during the second quarter, according to regulatory documents filed Tuesday. The investment partnerships purchased 542,500 shares of QLogic common stock during the three months. Vinik in the past often has purchased large stakes in technology companies over a short period of time, in some cases several weeks. Vinik, former portfolio manager for Fidelity Magellan Fund Inc., now manages hedge funds out of a Boston office.
July 16, 1999 |
Costa Mesa-based QLogic Corp. said Thursday that its net income more than doubled in the fiscal first quarter on record revenue, handily beating analysts' estimates. The company, which designs high-performance equipment that links computer systems and their accessories, said it earned $11.5 million, or 60 cents a share, for the three months ended June 27, up from $4.8 million, or 26 cents a share, a year ago.
November 5, 1998 |
QLogic Corp.'s stock hit a 52-week high Wednesday after the company's president said he expects profits to grow because of increased demand for its products, which speed communications between computers. "Because processing power goes up, input-output communications becomes a bottleneck," President H.K. Desai said. A customer like Sun Microsystems Inc., the world's biggest maker of computer workstations, has to ensure more powerful products can communicate faster. The stock climbed to $100.
May 8, 1999 |
QLogic Corp. shares rose 19% on Friday after the maker of chips that connect disk drives and accessories to computers said fourth-quarter profit more than doubled, aided by new products. QLogic rose $14.19 to $90.06, after reaching a record $96.25. The shares have gained about 38% this year. Emulex Corp., QLogic's former parent, rose 22%, or $10.81 a share, to $59.44. Emulex makes networking equipment that complements QLogic's. It spun off QLogic into a separately traded company five years ago.
May 11, 2000 |
QLogic Corp. reported a 58% increase in quarterly earnings Wednesday in results that beat Wall Street estimates, welcome news for a company that has lost 39% of its value since it said it would buy a money-losing company at a hefty premium. The Aliso Viejo designer of chips and circuit boards linking computers and data-storage systems said net income rose to $13.5 million, or 17 cents a share, for its fiscal fourth quarter, ended April 2. Last year, it earned $8.
May 10, 2000 |
Investors pummeled QLogic Corp.'s stock Tuesday for the second day in a row after the Aliso Viejo chip manufacturer unveiled plans to buy a money-losing maker of equipment for data storage networks at a hefty premium price. The stock, which tumbled 25% after the deal was announced Monday, was off an additional 17% Tuesday as traders ignored industry analysts who asserted that the sell-off is an overreaction. The stock lost $12.81 to end the day at $61.94 a share.