QuickLogic (NASDAQ:QUIK) Price Target Lowered to $13.00 at Oppenheimer

QuickLogic (NASDAQ:QUIK) had its price objective trimmed by Oppenheimer from $16.00 to $13.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

Several other brokerages have also recently weighed in on QUIK. Craig Hallum reduced their price target on QuickLogic from $16.00 to $12.00 and set a buy rating on the stock in a research note on Wednesday. StockNews.com lowered shares of QuickLogic from a hold rating to a sell rating in a research note on Tuesday.

QuickLogic Trading Up 8.2 %

Shares of QUIK traded up $0.67 during trading hours on Wednesday, reaching $8.89. 134,038 shares of the company traded hands, compared to its average volume of 263,889. QuickLogic has a 12 month low of $7.25 and a 12 month high of $20.75. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $10.64 and its two-hundred day moving average price is $12.72. The company has a market capitalization of $128.23 million, a price-to-earnings ratio of 146.83 and a beta of 1.63.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Tuesday, August 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). QuickLogic had a net margin of 4.65% and a return on equity of 6.57%. The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $4.50 million. During the same period in the previous year, the firm posted ($0.17) earnings per share. Equities research analysts predict that QuickLogic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $11.76, for a total value of $117,600.00. Following the sale, the vice president now directly owns 114,934 shares of the company’s stock, valued at $1,351,623.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuickLogic

Several hedge funds have recently added to or reduced their stakes in QUIK. Hillsdale Investment Management Inc. increased its holdings in QuickLogic by 918.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after buying an additional 4,410 shares in the last quarter. Acuitas Investments LLC lifted its stake in 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 during the period. XTX Topco Ltd purchased a new stake in shares of QuickLogic during the 2nd quarter valued at about $127,000. Rhumbline Advisers bought a new stake in shares of QuickLogic in the second quarter worth approximately $172,000. Finally, Gladstone Institutional Advisory LLC grew its stake in shares of QuickLogic by 13.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock worth $179,000 after acquiring an additional 1,565 shares during the period. 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.