Analysts Set QuickLogic Co. (NASDAQ:QUIK) PT at $11.53

Shares of QuickLogic Co. (NASDAQ:QUIK) have received a consensus rating of “Buy” from the four brokerages that are presently covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $11.53.

QUIK has been the topic of several analyst reports. Northland Capmk raised QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Northland Securities began coverage on shares of QuickLogic in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price on the stock. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Finally, Craig Hallum decreased their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th.

Insider Activity at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the transaction, the vice president now directly owns 108,004 shares in the company, valued at $750,627.80. This represents a 8.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elias Nader sold 8,711 shares of the business’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the sale, the chief financial officer now owns 60,955 shares of the company’s stock, valued at approximately $450,457.45. This 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 90 days. 2.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

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

QuickLogic Price Performance

QuickLogic stock opened at $7.84 on Wednesday. QuickLogic has a 52-week low of $6.75 and a 52-week high of $20.75. The company has a market cap of $115.30 million, a price-to-earnings ratio of -78.40 and a beta of 1.59. The firm’s fifty day moving average is $7.84 and its 200 day moving average is $8.87. 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 announced 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). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The business had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.20 million. During the same period in the previous year, the business posted $0.08 EPS. Sell-side analysts forecast that QuickLogic will post -0.29 EPS for the current fiscal year.

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.