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

QuickLogic Co. (NASDAQ:QUIK) has been given an average recommendation of “Buy” by the four research firms that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $11.53.

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

QuickLogic Price Performance

QuickLogic stock opened at $8.85 on Friday. The company has a market capitalization of $130.16 million, a price-to-earnings ratio of -88.50 and a beta of 1.42. The stock’s 50 day moving average is $8.51 and its 200-day moving average is $8.82. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75.

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). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The firm had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same period in the prior year, the business posted $0.08 EPS. Equities research analysts expect that QuickLogic will post -0.29 EPS for the current year.

Insider Buying and Selling at QuickLogic

In related news, VP Timothy Saxe sold 10,000 shares of QuickLogic 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 directly owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Brian C. Faith sold 21,402 shares of the company’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 transaction, the chief executive officer now owns 193,584 shares of the company’s stock, 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 quarter, insiders have sold 52,117 shares of company stock valued at $381,460. 2.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuickLogic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. State Street Corp boosted its stake in shares of QuickLogic by 15.6% during the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after purchasing an additional 26,774 shares in 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 valued at $764,000 after buying an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp boosted 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 buying an additional 38,273 shares during the period. Squarepoint Ops LLC grew its holdings in 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 during the last quarter. Finally, Barclays PLC increased its position in QuickLogic by 34.8% in the 3rd 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. Institutional investors own 31.54% of the company’s stock.

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.