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

Shares of QuickLogic Co. (NASDAQ:QUIK) have earned a consensus rating of “Buy” from the four research firms that are presently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $11.53.

Several equities research analysts have weighed in on QUIK shares. Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday. StockNews.com raised shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Craig Hallum dropped their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Finally, Northland Securities assumed coverage on QuickLogic in a research report on Tuesday. They issued an “outperform” rating and a $11.60 price objective on the stock.

Insider Activity

In related news, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $64,374.29. Following the sale, the chief financial officer now owns 60,955 shares of the company’s stock, valued at approximately $450,457.45. This trade represents a 12.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian C. Faith sold 21,402 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $158,160.78. Following the transaction, the chief executive officer now directly owns 193,584 shares of the company’s stock, valued at $1,430,585.76. This represents a 9.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,117 shares of company stock worth $381,460 over the last quarter. 2.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Raymond James & Associates lifted its position in QuickLogic by 83.1% during the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after buying an additional 58,668 shares in the last quarter. Marshall Wace LLP grew its stake in QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of QuickLogic by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after purchasing an additional 38,273 shares during the last quarter. 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 worth $573,000 after purchasing an additional 36,409 shares in the last quarter. Finally, State Street Corp boosted its holdings in shares of QuickLogic by 15.6% in the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after buying an additional 26,774 shares during the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

QuickLogic Stock Performance

NASDAQ:QUIK opened at $8.40 on Wednesday. The stock has a market capitalization of $123.56 million, a P/E ratio of -84.00 and a beta of 1.59. QuickLogic has a 1 year low of $6.75 and a 1 year high of $20.75. The firm has a 50 day moving average of $7.88 and a 200-day moving average of $8.97. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The business had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same period in the prior year, the firm posted $0.08 EPS. As a group, sell-side analysts anticipate that QuickLogic will post -0.29 EPS for the current fiscal year.

QuickLogic Company Profile

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.