Craig Hallum Lowers QuickLogic (NASDAQ:QUIK) Price Target to $10.00

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

QUIK has been the subject of a number of other research reports. Oppenheimer cut their target price on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.

QuickLogic Stock Down 3.3 %

NASDAQ:QUIK opened at $7.63 on Tuesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.21. QuickLogic has a 52 week low of $7.01 and a 52 week high of $20.75. The stock’s 50-day moving average price is $7.85 and its 200-day moving average price is $9.89.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data 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 7.35%. The business had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same quarter last year, the firm earned $0.08 earnings per share. Sell-side analysts predict that QuickLogic will post 0.08 EPS for the current year.

Insider Activity

In related news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction 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 trade represents a 8.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $7.42, for a total value of $33,078.36. Following the transaction, the chief financial officer now directly owns 52,740 shares in the company, 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 sold 42,324 shares of company stock worth $363,535 over the last three months. Insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

A number of institutional investors have recently bought and sold shares of the company. Quest Partners LLC increased 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 buying an additional 10,743 shares during the last quarter. Cutter & CO Brokerage Inc. purchased a new position in QuickLogic in the third quarter worth approximately $106,000. Squarepoint Ops LLC increased its stake in QuickLogic by 194.3% during the second 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 during the last quarter. Marshall Wace LLP raised its position 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 purchasing an additional 39,878 shares during the period. Finally, XTX Topco Ltd acquired a new position in shares of QuickLogic in the 2nd quarter valued at $127,000. 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.