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.
July 14, 1994
QLogic Corp., a Costa Mesa computer products company, reported earnings of $534,000 for its latest quarter. That was up 48% from a profit of $362,000 for the same period a year earlier. Revenue for the company's first fiscal quarter, which ended July 3, was $14.2 million, up 9% from $13.0 million for the same period a year earlier. QLogic became an independent, publicly traded company when its shares were distributed to stockholders of record of Emulex Corp. on Feb. 28.