QuickLogic Co. (NASDAQ:QUIK) Receives Average Recommendation of “Buy” from Analysts

Shares of QuickLogic Co. (NASDAQ:QUIK) have been assigned a consensus recommendation of “Buy” from the four brokerages that are presently covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $11.53.

QUIK has been the topic of a number of analyst reports. Craig Hallum decreased their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. StockNews.com upgraded QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. Northland Securities started coverage on QuickLogic in a research report on Tuesday. They issued an “outperform” rating and a $11.60 price target on the stock. Finally, Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday.

QuickLogic Price Performance

Shares of NASDAQ QUIK opened at $8.40 on Wednesday. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average price is $7.88 and its two-hundred day moving average price is $8.97. The company has a market cap of $123.56 million, a PE ratio of -84.00 and a beta of 1.59. QuickLogic has a twelve month low of $6.75 and a twelve month high of $20.75.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same quarter in the prior year, the firm earned $0.08 earnings per share. On average, analysts predict that QuickLogic will post -0.29 EPS for the current year.

Insider Buying and Selling

In related news, CFO Elias Nader sold 8,711 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the transaction, the chief financial officer now directly owns 60,955 shares in the company, valued at $450,457.45. This represents a 12.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the vice president now owns 108,004 shares in the company, valued at $750,627.80. This represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,117 shares of company stock worth $381,460 in the last ninety days. 2.49% of the stock is owned by insiders.

Hedge Funds Weigh In On QuickLogic

Institutional investors and hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its holdings in shares of QuickLogic by 24.8% during the second quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 3,750 shares during the last quarter. Quest Partners LLC increased its position in 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 period. Bank of New York Mellon Corp raised its stake in shares of QuickLogic by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after acquiring an additional 38,273 shares during the last quarter. Raymond James & Associates lifted its holdings in shares of QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 58,668 shares during the period. Finally, Rhumbline Advisers bought a new stake in shares of QuickLogic in the second quarter worth $172,000. 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.