Emulex Seeks Another 2-for-1 Stock Split

Costa Mesa-based Emulex Corp. is planning a 2-for-1 stock split for the second time in recent months, the company said Tuesday.

Emulex, which develops high-speed computer networking products, has seen its shares rise 63% since a 2-for-1 split at the end of August, when the shares closed at $64.44. On Tuesday, the stock fell $6, or 5%, to close at $105.

Emulex said directors have approved the latest split and an increase in the number of outstanding common shares to 120 million from 20 million.

Shareholders of record Oct. 4 will vote on the proposals Nov. 18 at the company’s annual meeting. No date has been set for the split to take effect.

The company has seen its stock skyrocket from a low of $6.88 a year ago to as high as $111 on Monday.

Emulex’s rival, offspring and neighbor, Costa Mesa-based QLogic Corp., has also seen its stock surge, going from $15.94 a year ago to a high of $96.19 last month. QLogic has split its stock twice in the last year.