QuickLogic Co. (NASDAQ:QUIK) Given Average Rating of “Buy” by Brokerages

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

QUIK has been the subject of a number of recent research reports. Northland Securities initiated coverage on QuickLogic in a research note on Tuesday, December 17th. They set an “outperform” rating and a $11.60 price target for the company. StockNews.com upgraded QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Craig Hallum cut their price objective on QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th. Finally, Northland Capmk upgraded QuickLogic to a “strong-buy” rating in a research note on Tuesday, December 17th.

QuickLogic Trading Up 3.7 %

QuickLogic stock opened at $7.09 on Thursday. The business has a 50-day simple moving average of $8.84 and a two-hundred day simple moving average of $8.39. The company has a market cap of $104.29 million, a P/E ratio of -70.90 and a beta of 1.39. QuickLogic has a 52-week low of $6.75 and a 52-week high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last released 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). The firm had revenue of $4.27 million for 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 firm earned $0.08 earnings per share. Analysts predict that QuickLogic will post -0.29 EPS for the current year.

Insider Buying and Selling

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 stock was sold at an average price of $7.39, for a total value of $64,374.29. Following the transaction, the chief financial officer now directly owns 60,955 shares of the company’s stock, valued at approximately $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 accessible 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 value of $158,160.78. Following the completion of the transaction, the chief executive officer now directly owns 193,584 shares in the company, valued at approximately $1,430,585.76. This represents a 9.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 54,960 shares of company stock valued at $400,650. Corporate insiders own 2.49% of the company’s stock.

Institutional Trading of QuickLogic

Several hedge funds have recently modified their holdings of QUIK. Marshall Wace LLP raised its holdings in shares of QuickLogic by 118.4% during 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 in the last quarter. Squarepoint Ops LLC raised its holdings in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in shares of QuickLogic during the 3rd quarter worth approximately $106,000. Quest Partners LLC raised its holdings 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 worth $84,000 after acquiring an additional 10,743 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of QuickLogic by 15.6% during the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $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.

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.