QuickLogic Co. (NASDAQ:QUIK) Receives Consensus Recommendation of “Buy” from Brokerages

QuickLogic Co. (NASDAQ:QUIK) has received an average recommendation of “Buy” from the four ratings firms that are presently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $11.53.

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

QuickLogic Price Performance

QuickLogic stock opened at $9.24 on Wednesday. The stock has a market cap of $135.89 million, a price-to-earnings ratio of -92.40 and a beta of 1.59. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The business has a 50-day simple moving average of $7.85 and a 200 day simple moving average of $8.85. QuickLogic has a 52 week low of $6.75 and a 52 week high of $20.75.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $4.27 million for the quarter, compared to analysts’ expectations 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 period in the previous year, the firm posted $0.08 EPS. On average, research analysts forecast that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the vice president now owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the transaction, the chief financial officer now directly owns 60,955 shares in the company, valued at approximately $450,457.45. The trade was a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,117 shares of company stock worth $381,460 over the last three months. Company insiders own 2.49% of the company’s stock.

Institutional Trading of QuickLogic

A number of institutional investors have recently modified their holdings of QUIK. American Century Companies Inc. raised its position in QuickLogic by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 3,750 shares during the last quarter. Quest Partners LLC raised its holdings in shares of 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 in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QuickLogic by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after acquiring an additional 38,273 shares in the last quarter. Raymond James & Associates lifted its stake in QuickLogic by 83.1% in the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after acquiring an additional 58,668 shares during the period. Finally, Rhumbline Advisers bought a new stake in QuickLogic in the second quarter valued at $172,000. 31.54% of the stock is currently owned by hedge funds and other 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.