QLogic (Nasdaq: QLGC) is expected to report Q2 earnings on Oct. 25. Here's what Wall Street wants to see:

The 10-second takeaway
 Comparing the upcoming quarter to the prior-year quarter, average analyst estimates predict QLogic's revenues will wither -21.9% and EPS will contract -47.1%.

The average estimate for revenue is $117.4 million. On the bottom line, the average EPS estimate is $0.18.

Revenue details
 Last quarter, QLogic logged revenue of $130.4 million. GAAP reported sales were 9.8% lower than the prior-year quarter's $144.5 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
 Last quarter, non-GAAP EPS came in at $0.26. GAAP EPS of $0.19 for Q1 were 37% lower than the prior-year quarter's $0.30 per share.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Recent performance
 For the preceding quarter, gross margin was 66.8%, 210 basis points worse than the prior-year quarter. Operating margin was 15.4%, 940 basis points worse than the prior-year quarter. Net margin was 14.1%, 830 basis points worse than the prior-year quarter.

Looking ahead

The full year's average estimate for revenue is $498.5 million. The average EPS estimate is $0.88.

Investor sentiment
 The stock has a three-star rating (out of five) at Motley Fool CAPS, with 250 members out of 267 rating the stock outperform, and 17 members rating it underperform. Among 63 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 61 give QLogic a green thumbs-up, and two give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on QLogic is hold, with an average price target of $16.64.

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