QuickLogic Co. (NASDAQ:QUIK) Given Average Recommendation of “Buy” by Analysts

Shares of QuickLogic Co. (NASDAQ:QUIK) have been assigned a consensus recommendation of “Buy” from the four research firms that are currently covering the company, MarketBeat reports. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $11.53.

QUIK has been the topic of several research analyst reports. Craig Hallum lowered their price target on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Northland Securities assumed coverage on QuickLogic in a report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price on the stock. StockNews.com upgraded QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a research note on Tuesday, December 17th.

Insider Activity

In other QuickLogic news, CEO Brian C. Faith sold 21,402 shares of the firm’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 $158,160.78. Following the sale, the chief executive officer now directly owns 193,584 shares of the company’s stock, valued at $1,430,585.76. This trade represents a 9.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. This trade represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,117 shares of company stock valued at $381,460 in the last ninety days. Corporate insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Acuitas Investments LLC raised its position in shares of QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 3,400 shares during the last quarter. Quest Partners LLC increased its holdings 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 last quarter. XTX Topco Ltd purchased a new stake in QuickLogic in the 2nd quarter worth $127,000. Cutter & CO Brokerage Inc. bought a new position in shares of QuickLogic during the 3rd quarter valued at about $106,000. Finally, Rhumbline Advisers purchased a new position in shares of QuickLogic during the second quarter valued at about $172,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

QuickLogic Trading Down 1.5 %

QuickLogic stock opened at $7.84 on Wednesday. QuickLogic has a one year low of $6.75 and a one year high of $20.75. The business’s fifty day moving average is $7.84 and its 200 day moving average is $8.87. The stock has a market capitalization of $115.30 million, a PE ratio of -78.40 and a beta of 1.59. 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 announced its quarterly earnings results 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 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 prior year, the firm earned $0.08 earnings per share. On average, sell-side analysts predict that QuickLogic will post -0.29 EPS for the current year.

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.