Public Likes QLogic; Shares Up 12%

COSTA MESA — Shares of QLogic Corp. jumped 12% Friday on what the company believes may be continuing interest from its public offering, which raised more than $78 million last week.

The company’s stock gained $4.38 a share to close at $40.88 on heavy Nasdaq trading.

Executives at the company, which designs and markets semiconductor products, had no other explanation for the big jump except the Aug. 13 public offering of 2.6 million shares.

But QLogic’s earnings for its first fiscal quarter, which ended June 29, had soared. It posted net income of $2.2 million, or 35 cents a share, more than double the $967,000, or 16 cents a share, earned in last year’s first quarter.