Piper Jaffray Cuts QLogic Rating

Analyst Les Santiago thinks the sale of QLogic's hard disk and tape drive controller businesses will be negative for the stock

Piper Jaffray cut its opinion on QLogic (QLGC ) to underperform from market perform Tuesday, giving a thumbs down to the announcement late Monday that the technology company plans to sell its hard disk and tape drive controller (HDC) businesses.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.