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

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

Several analysts have recently commented on the stock. Craig Hallum lowered their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Northland Securities assumed coverage on QuickLogic in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price on the stock. Finally, StockNews.com raised QuickLogic to a “sell” rating in a research report on Wednesday, December 11th.

QuickLogic Price Performance

Shares of NASDAQ QUIK opened at $9.24 on Wednesday. The stock has a market cap of $135.89 million, a price-to-earnings ratio of -92.40 and a beta of 1.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. QuickLogic has a fifty-two week low of $6.75 and a fifty-two week high of $20.75. The firm’s 50-day simple moving average is $7.85 and its 200 day simple moving average is $8.85.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share 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 net margin of 6.83% and a negative return on equity of 7.30%. During the same quarter in the prior year, the business earned $0.08 EPS. As a group, research analysts anticipate that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the completion of the transaction, the chief financial officer now owns 60,955 shares in the company, valued at $450,457.45. This trade represents a 12.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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 transaction of $69,500.00. Following the sale, the vice president now owns 108,004 shares in the company, valued at $750,627.80. The trade was a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,117 shares of company stock valued at $381,460. 2.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuickLogic

Several institutional investors have recently made changes to their positions in the stock. Quest Partners LLC raised its stake in shares of QuickLogic by 5,067.5% during the 3rd 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 during the period. Acuitas Investments LLC grew its holdings in QuickLogic by 54.0% during the 2nd 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 in the last quarter. Cutter & CO Brokerage Inc. bought a new stake in shares of QuickLogic during the third quarter valued at about $106,000. XTX Topco Ltd purchased a new stake in shares of QuickLogic in the second quarter worth about $127,000. Finally, Barclays PLC boosted its position in shares of QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 5,079 shares during the period. Hedge funds and other institutional investors 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.