NEW YORK ( TheStreet) -- QLogic Corporation (Nasdaq: QLGC) hit a new 52-week low Monday as it is currently trading at $12.22, below its previous 52-week low of $12.23 with 794,439 shares traded as of 2:56 p.m. ET. Average volume has been 1.5 million shares over the past 30 days. QLogic has a market cap of $1.4 billion and is part of the technology sector and electronics industry. Shares are down 25.5% year to date as of the close of trading on Friday. QLogic Corporation engages in the design and supply of storage networking, high performance computing networking, and converged networking infrastructure solutions. The company has a P/E ratio of 9.7, equal to the average electronics industry P/E ratio and below the S&P 500 P/E ratio of 17.7.
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