QuickLogic (NASDAQ:QUIK) Upgraded at Northland Capmk

Northland Capmk upgraded shares of QuickLogic (NASDAQ:QUIK) to a strong-buy rating in a report issued on Tuesday,Zacks.com reports.

QUIK has been the topic of a number of other research reports. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Craig Hallum dropped their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, Northland Securities started coverage on shares of QuickLogic in a report on Tuesday. They issued an “outperform” rating and a $11.60 price objective on the stock. One investment 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, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $11.53.

QuickLogic Stock Down 3.0 %

Shares of NASDAQ QUIK opened at $7.96 on Tuesday. 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 stock has a market capitalization of $117.07 million, a PE ratio of -79.60 and a beta of 1.59. The firm has a fifty day moving average of $7.86 and a 200-day moving average of $8.95. QuickLogic has a 52-week low of $6.75 and a 52-week high of $20.75.

QuickLogic (NASDAQ:QUIK) last issued 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). The company had revenue of $4.27 million for the quarter, compared to analyst estimates 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 prior year, the firm earned $0.08 EPS. On average, analysts anticipate that QuickLogic will post -0.29 EPS for the current year.

Insiders Place Their Bets

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

Institutional Trading of QuickLogic

Institutional investors and hedge funds have recently bought and sold shares of the stock. American Century Companies Inc. raised 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 valued at $196,000 after acquiring an additional 3,750 shares during the period. Quest Partners LLC lifted its holdings in shares of QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 10,743 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after buying an additional 38,273 shares during the period. Raymond James & Associates grew 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 valued at $1,343,000 after buying an additional 58,668 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in QuickLogic during the second quarter valued at $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.