QuickLogic (NASDAQ:QUIK) Coverage Initiated at Northland Securities

Stock analysts at Northland Securities started coverage on shares of QuickLogic (NASDAQ:QUIK) in a note issued to investors on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $11.60 price target on the semiconductor company’s stock. Northland Securities’ target price indicates a potential upside of 41.29% from the company’s current price.

QUIK has been the topic of a number of other reports. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Craig Hallum dropped their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.53.

QuickLogic Trading Down 2.3 %

NASDAQ QUIK opened at $8.21 on Tuesday. The company’s 50-day moving average price is $7.88 and its 200-day moving average price is $8.96. 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 stock has a market cap of $120.74 million, a PE ratio of -82.10 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 posted its quarterly 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). The company had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same quarter in the previous year, the company posted $0.08 earnings per share. Equities research analysts forecast that QuickLogic will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other QuickLogic news, CEO Brian C. Faith sold 21,402 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $158,160.78. Following the transaction, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 position. The disclosure for this sale can be found here. Insiders sold 52,117 shares of company stock worth $381,460 in the last three months. 2.49% of the stock is owned by insiders.

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently added to or reduced their stakes in QUIK. Quest Partners LLC grew its stake in QuickLogic by 5,067.5% in the third 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 last quarter. Acuitas Investments LLC boosted its holdings in QuickLogic by 54.0% in the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in QuickLogic in the third quarter worth about $106,000. XTX Topco Ltd acquired a new stake in QuickLogic in the second quarter worth about $127,000. Finally, Barclays PLC boosted its holdings in QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 5,079 shares in the last quarter. Hedge funds and other 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.