QuickLogic (NASDAQ:QUIK) Price Target Cut to $10.00 by Analysts at Craig Hallum

QuickLogic (NASDAQ:QUIK) had its target price decreased by Craig Hallum from $12.00 to $10.00 in a research note issued to investors on Tuesday,Benzinga reports. Craig Hallum currently has a buy rating on the semiconductor company’s stock.

Other analysts have also recently issued reports about the stock. Oppenheimer reduced their target price on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. StockNews.com cut QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th.

QuickLogic Stock Down 7.7 %

QuickLogic stock opened at $7.04 on Tuesday. QuickLogic has a 52 week low of $6.95 and a 52 week high of $20.75. The stock has a market cap of $101.87 million, a price-to-earnings ratio of -70.40 and a beta of 1.56. The company’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $9.88. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.35%. The firm had revenue of $4.27 million for the quarter, compared to the consensus estimate of $4.20 million. During the same period in the previous year, the business posted $0.08 earnings per share. On average, analysts expect that QuickLogic will post 0.08 EPS for the current fiscal year.

Insider Activity

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $8.44, for a total value of $84,400.00. Following the transaction, the vice president now owns 104,934 shares in the company, valued at approximately $885,642.96. This represents a 8.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elias Nader sold 4,458 shares of QuickLogic stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total transaction of $33,078.36. Following the sale, the chief financial officer now directly owns 52,740 shares of the company’s stock, valued at $391,330.80. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,324 shares of company stock worth $363,535 over the last 90 days. 2.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently added to or reduced their stakes in the company. State Street Corp boosted its holdings in QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after purchasing an additional 26,774 shares in the last quarter. Raymond James & Associates grew its stake in QuickLogic by 83.1% in the 2nd 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 during the last quarter. Marshall Wace LLP raised its holdings in QuickLogic by 118.4% in the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after acquiring an additional 39,878 shares during the period. Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 38,273 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in QuickLogic by 29.9% during the first quarter. Acadian Asset Management LLC now owns 63,152 shares of the semiconductor company’s stock valued at $1,010,000 after acquiring an additional 14,520 shares during the period. Institutional investors and hedge funds 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.