QuickLogic (NASDAQ:QUIK) Price Target Cut to $10.00 by Analysts at Craig Hallum

QuickLogic (NASDAQ:QUIK) had its target price trimmed by Craig Hallum from $12.00 to $10.00 in a research report released on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the semiconductor company’s stock.

A number of other brokerages also recently issued reports on QUIK. StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Oppenheimer decreased their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th.

QuickLogic Stock Performance

QUIK opened at $7.39 on Tuesday. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.21 and a quick ratio of 1.14. The stock has a fifty day moving average of $7.85 and a 200-day moving average of $9.95. QuickLogic has a fifty-two week low of $7.01 and a fifty-two week high of $20.75.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative return on equity of 7.35% and a negative net margin of 6.83%. The business had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same quarter last year, the firm earned $0.08 EPS. On average, research analysts forecast that QuickLogic will post 0.08 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $7.42, for a total transaction of $33,078.36. Following the completion of the transaction, the chief financial officer now owns 52,740 shares of the company’s stock, valued at approximately $391,330.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QuickLogic news, CFO Elias Nader sold 4,458 shares of QuickLogic stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $7.42, for a total value of $33,078.36. Following the transaction, the chief financial officer now owns 52,740 shares in the company, valued at $391,330.80. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Brian C. Faith sold 27,866 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total value of $246,056.78. Following the transaction, the chief executive officer now directly owns 215,849 shares of the company’s stock, valued at approximately $1,905,946.67. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,324 shares of company stock worth $363,535 over the last three months. Insiders own 1.70% of the company’s stock.

Institutional Trading of QuickLogic

A number of hedge funds and other institutional investors have recently modified their holdings of QUIK. Acuitas Investments LLC boosted its holdings in shares of QuickLogic by 54.0% during the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 3,400 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of QuickLogic by 24.8% during the second 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 in the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of QuickLogic by 918.8% during the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 4,410 shares during the last quarter. Quest Partners LLC increased its stake in shares of 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 buying an additional 10,743 shares during the period. Finally, XTX Topco Ltd bought a new position in QuickLogic in the 2nd quarter valued at approximately $127,000. Institutional investors own 31.54% of the company’s stock.

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.