QuickLogic (NASDAQ:QUIK) Now Covered by Northland Securities

Analysts at Northland Securities assumed coverage on shares of QuickLogic (NASDAQ:QUIK) in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage set an “outperform” rating and a $11.60 price target on the semiconductor company’s stock. Northland Securities’ price objective indicates a potential upside of 43.39% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. 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 on the stock in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $11.53.

QuickLogic Stock Performance

Shares of QUIK stock opened at $8.09 on Tuesday. 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 firm has a fifty day moving average price of $7.88 and a 200 day moving average price of $9.00. The company has a market cap of $119.00 million, a P/E ratio of -80.90 and a beta of 1.59. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75.

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

Insiders Place Their Bets

In related news, CFO Elias Nader sold 8,711 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the sale, the chief financial officer now directly owns 60,955 shares in the company, valued at $450,457.45. The trade was a 12.50 % decrease in their position. 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 business’s stock in a transaction that occurred 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders 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

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates lifted its stake in shares of QuickLogic by 83.1% in the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after buying an additional 58,668 shares during the last quarter. Marshall Wace LLP raised its stake in shares of QuickLogic by 118.4% in the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after buying an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after purchasing an additional 38,273 shares during the last quarter. Squarepoint Ops LLC grew its holdings in shares of QuickLogic by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after purchasing an additional 36,409 shares during the last quarter. Finally, State Street Corp increased its position in QuickLogic by 15.6% in the 3rd 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 in the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

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.