Northland Securities Initiates Coverage on QuickLogic (NASDAQ:QUIK)

Equities researchers at Northland Securities started coverage on shares of QuickLogic (NASDAQ:QUIK) in a report issued on Tuesday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $11.60 price target on the semiconductor company’s stock. Northland Securities’ target price would indicate a potential upside of 41.29% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Craig Hallum lowered their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com raised shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $11.53.

QuickLogic Stock Performance

QUIK opened at $8.21 on Tuesday. The firm has a market cap of $120.74 million, a P/E ratio of -82.10 and a beta of 1.59. QuickLogic has a 1-year low of $6.75 and a 1-year high of $20.75. The company has a 50 day simple moving average of $7.88 and a two-hundred day simple moving average of $8.96. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05.

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

Insider Transactions at QuickLogic

In related news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction 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 sale, the vice president now owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian C. Faith sold 21,402 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the sale, the chief executive officer now directly owns 193,584 shares in the company, valued at approximately $1,430,585.76. The trade was a 9.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,117 shares of company stock valued at $381,460. 2.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuickLogic

A number of hedge funds have recently bought and sold shares of QUIK. Raymond James & Associates raised its stake in QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock valued at $1,343,000 after purchasing an additional 58,668 shares in the last quarter. Marshall Wace LLP increased its position in QuickLogic by 118.4% during the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after acquiring an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp increased its position in 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. Squarepoint Ops LLC increased its position in QuickLogic by 194.3% during the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 36,409 shares during the last quarter. Finally, State Street Corp increased its position in QuickLogic by 15.6% during the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after acquiring an additional 26,774 shares during the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.

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.