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

QuickLogic Co. (NASDAQ:QUIK) has earned a consensus rating of “Buy” from the four analysts that are currently covering the company, MarketBeat.com reports. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $11.53.

A number of equities analysts have commented on QUIK shares. Northland Securities started coverage on shares of QuickLogic in a research report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 price objective for the company. Craig Hallum reduced their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, StockNews.com raised shares of QuickLogic to a “sell” rating in a research report on Wednesday, December 11th.

QuickLogic Price Performance

Shares of QUIK opened at $8.81 on Friday. The company has a market cap of $129.60 million, a price-to-earnings ratio of -88.10 and a beta of 1.42. QuickLogic has a 1-year low of $6.75 and a 1-year high of $20.75. The company’s fifty day simple moving average is $8.58 and its 200 day simple moving average is $8.78. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share 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 analyst estimates 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 quarter in the previous year, the firm posted $0.08 earnings per share. On average, research analysts forecast that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Activity

In other news, 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 value 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. The trade was a 12.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy Saxe sold 10,000 shares of the business’s 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 completion of the sale, the vice president now directly owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 52,117 shares of company stock valued at $381,460. 1.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of QUIK. Marshall Wace LLP raised its stake in QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp raised its stake in QuickLogic by 142.9% in 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 purchasing an additional 38,273 shares in the last quarter. Squarepoint Ops LLC raised its stake in QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after purchasing an additional 36,409 shares in the last quarter. State Street Corp raised its stake in QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after purchasing an additional 26,774 shares in the last quarter. Finally, Rhumbline Advisers acquired a new position in QuickLogic in the second quarter valued at about $172,000. Institutional investors and hedge funds 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.