QuickLogic (NASDAQ:QUIK) Rating Increased to Strong-Buy at Northland Capmk

Northland Capmk upgraded shares of QuickLogic (NASDAQ:QUIK) to a strong-buy rating in a research note published on Tuesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the company. Northland Securities started coverage on QuickLogic in a research report on Tuesday. They issued an “outperform” rating and a $11.60 price objective for the company. Craig Hallum reduced their price target 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. Finally, StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.53.

QuickLogic Stock Performance

Shares of NASDAQ QUIK opened at $7.96 on Tuesday. The business’s 50-day simple moving average is $7.86 and its 200-day simple moving average is $8.95. QuickLogic has a 52 week low of $6.75 and a 52 week high of $20.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The firm has a market cap of $117.07 million, a price-to-earnings ratio of -79.60 and a beta of 1.59.

QuickLogic (NASDAQ:QUIK) last posted its 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 during the quarter, compared to analyst estimates 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 previous year, the business posted $0.08 earnings per share. As a group, equities research analysts expect that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the sale, the vice president now directly 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Elias Nader sold 8,711 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $64,374.29. Following the sale, the chief financial officer now owns 60,955 shares in the company, valued at $450,457.45. The trade was a 12.50 % decrease in their position. 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.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently bought and sold shares of the company. Acuitas Investments LLC grew its holdings in shares of QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 3,400 shares during the last quarter. American Century Companies Inc. grew its holdings in QuickLogic by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 3,750 shares during the period. Barclays PLC grew its stake in QuickLogic by 34.8% during the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the period. Quest Partners LLC increased its holdings in QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares in the last quarter. Finally, XTX Topco Ltd acquired a new position in QuickLogic in the second quarter valued at approximately $127,000. 31.54% of the stock is owned by institutional investors.

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.