Craig Hallum Issues Pessimistic Forecast for QuickLogic (NASDAQ:QUIK) Stock Price

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

Other equities research analysts also recently issued reports about the company. StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a 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 note on Wednesday, August 14th.

QuickLogic Trading Down 7.7 %

Shares of QUIK opened at $7.04 on Tuesday. The stock’s 50-day moving average price is $7.86 and its 200 day moving average price is $9.88. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.01. The firm has a market capitalization of $101.87 million, a price-to-earnings ratio of -70.40 and a beta of 1.56. QuickLogic has a 12-month low of $6.95 and a 12-month high of $20.75.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.35%. During the same quarter in the prior year, the firm posted $0.08 earnings per share. As a group, research analysts predict that QuickLogic will post 0.08 earnings per share for the current year.

Insider Activity at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $8.44, for a total transaction of $84,400.00. Following the sale, the vice president now directly owns 104,934 shares of the company’s stock, valued at $885,642.96. This represents a 8.70 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction that occurred 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 $391,330.80. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,324 shares of company stock valued at $363,535 in the last three months. Corporate insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of QUIK. Hillsdale Investment Management Inc. lifted its holdings in QuickLogic by 918.8% in the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 4,410 shares during the period. Acuitas Investments LLC lifted 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 buying an additional 3,400 shares during the period. Quest Partners LLC boosted its holdings in QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after buying an additional 10,743 shares during the last quarter. XTX Topco Ltd bought a new position in QuickLogic during the second quarter worth about $127,000. Finally, Cutter & CO Brokerage Inc. acquired a new position in shares of QuickLogic during the 3rd quarter worth about $106,000. Institutional investors own 31.54% of the company’s stock.

About QuickLogic

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.