UPDATE: Barclays Downgrades QLogic


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In a note released Monday, Barclays downgraded shares of QLogic (NASDAQ: QLGC) from Overweight to Underweight and lowered the price target from $13 to $10.

The downgrade from Barclays comes amid steeper-than-expected declines in the legacy FC business, belief that the company's 16GB opportunity is more likely to unfold in calendar-year 2015 and the appearance that share repurchases will be put on hold as the company "digests" the recent 10GB Ethernet acquisition.

Although the firm sees the 10GB acquisition as a positive, it noted that the stock has limited room for outperformance in the near-term.


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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.


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Posted In: Analyst ColorDowngradesPrice TargetAnalyst RatingsBarclays