Shares of Aliso Viejo-based QLogic Corp. rose about 5% in premarket trading Wednesday and closed flat for the day after Merrill Lynch & Co. started covering the company with a “buy” rating.
QLogic, which sells devices for data storage networks, could see gains from sales of host bus adapters for blade servers, analyst Srini Pajjuri said in a note to investors.
The company leads rival Emulex Corp. of Costa Mesa in blade server adapters, the analyst said.
For the June quarter, QLogic could see sales of $135 million, up about 17% from a year earlier, and profit of $32 million, up 25%.
