This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

QLogic Corporation CEO Presents At Morgan Stanley Technology, Media & Telecom Conference (Transcript)

Stocks in this article: QLGC

QLogic Corporation ( QLGC)

Morgan Stanley Technology, Media & Telecom Conference

Feb 28, 2012 05:10 PM ET

Executives

Simon Biddiscombe - President and CEO

Jean Hu - CFO

Analysts

Katy Huberty - Morgan Stanley

Scott Schmitz - Morgan Stanley

Presentation

Katy Huberty - Morgan Stanley

Good afternoon. I'm Katy Huberty, Morgan Stanley's Technology Hardware Analyst and I'm very pleased to welcome Simon Biddiscombe, President and CEO and Jean Hu, CFO of QLogic. Scott Schmitz, who also works with me on all the storage names is also up on stage. Before we begin I just have to say that my personal holdings disclosure, the Morgan Stanley on the Morgan Stanley corporate website www.morganstanley.com\reseach disclosures. So that will come and thank you very much for your time.

Just to start, I want to talk about one of the recent announcements that you made to the best of the Infiniband assets. Can you talk about why you made that decision and what opportunities that makes to invest in other areas?

Simon Biddiscombe

Sure. So we started our investment in the Infiniband business back in the 2006 timeframe. We acquired both our host company and a switch company at that point in time and at point there was some expectation that Infiniband may have become a relevant data center network and technology that could potentially replace either fiber channel or Ethernet as a data center protocol of choice.

As time has passed that clearly hasn’t proven to be the case and the technology needs have evolved away from the core competencies that exist within QLogic and go to markets have evolved away from the core competencies that exist within QLogic. So if you go back to the infancy of the market, we were buying chips from Mellanox.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,399.67 +19.26 0.12%
S&P 500 1,904.01 +17.25 0.91%
NASDAQ 4,316.0740 +57.6360 1.35%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs