Craig Hallum Cuts QuickLogic (NASDAQ:QUIK) Price Target to $10.00

QuickLogic (NASDAQ:QUIK) had its price target cut by Craig Hallum from $12.00 to $10.00 in a research note released on Tuesday,Benzinga reports. They currently have a buy rating on the semiconductor company’s stock.

Several other equities analysts have also issued reports on the company. StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Oppenheimer reduced their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th.

QuickLogic Stock Performance

NASDAQ QUIK opened at $7.63 on Tuesday. QuickLogic has a fifty-two week low of $7.01 and a fifty-two week high of $20.75. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a 50 day simple moving average of $7.85 and a two-hundred day simple moving average of $9.89.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.35%. During the same period in the previous year, the business earned $0.08 earnings per share. Research analysts forecast that QuickLogic will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian C. Faith sold 27,866 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total transaction of $246,056.78. Following the sale, the chief executive officer now directly owns 215,849 shares of the company’s stock, valued at $1,905,946.67. The trade was a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elias Nader sold 4,458 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $7.42, for a total value of $33,078.36. Following the completion of the transaction, the chief financial officer now owns 52,740 shares of the company’s stock, valued at $391,330.80. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,324 shares of company stock valued at $363,535. 2.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quest Partners LLC boosted its holdings in shares of QuickLogic by 5,067.5% in the 3rd quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 10,743 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in QuickLogic during the 3rd quarter worth about $106,000. Squarepoint Ops LLC raised its stake in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after buying an additional 36,409 shares during the last quarter. Marshall Wace LLP boosted its stake in shares of QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after buying an additional 39,878 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in QuickLogic during the second quarter worth about $127,000. Institutional investors and hedge funds own 31.54% of the company’s stock.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.