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

QuickLogic Co. (NASDAQ:QUIK) has received a consensus recommendation of “Buy” from the four analysts that are currently covering the firm, Marketbeat reports. Three investment 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 objective among analysts that have issued ratings on the stock in the last year is $11.53.

Several brokerages have issued reports on QUIK. Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. StockNews.com raised shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Craig Hallum decreased their target price 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 began coverage on shares of QuickLogic in a report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 target price for the company.

Insiders Place Their Bets

In other news, CEO Brian C. Faith sold 21,402 shares of QuickLogic stock in a transaction 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 owns 193,584 shares in the company, valued at $1,430,585.76. The trade was a 9.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Timothy Saxe sold 10,000 shares of the company’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 value of $69,500.00. Following the completion of the transaction, the vice president now owns 108,004 shares in the company, valued at $750,627.80. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 52,117 shares of company stock worth $381,460. Corporate insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Several hedge funds have recently bought and sold shares of QUIK. Marshall Wace LLP raised its holdings 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 acquiring an additional 39,878 shares in the last quarter. Squarepoint Ops LLC increased its position in QuickLogic by 194.3% in the 2nd 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 period. Cutter & CO Brokerage Inc. purchased a new position in QuickLogic in the 3rd quarter valued at $106,000. Quest Partners LLC raised its holdings in QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of QuickLogic by 15.6% in the third 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 in the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

QuickLogic Stock Performance

Shares of NASDAQ:QUIK opened at $7.31 on Thursday. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $107.53 million, a price-to-earnings ratio of -73.10 and a beta of 1.39. The firm’s 50-day moving average is $8.88 and its 200 day moving average is $8.44.

QuickLogic (NASDAQ:QUIK) last issued its 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). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The company had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.20 million. During the same period last year, the business posted $0.08 earnings per share. Research analysts predict that QuickLogic will post -0.29 EPS for the current 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.