Craig Hallum Has Lowered Expectations for QuickLogic (NASDAQ:QUIK) Stock Price

QuickLogic (NASDAQ:QUIK) had its price objective dropped by Craig Hallum from $12.00 to $10.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price indicates a potential upside of 26.74% from the stock’s previous close.

Several other research firms also recently commented on QUIK. StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Oppenheimer cut their price objective on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th.

QuickLogic Price Performance

Shares of QUIK opened at $7.89 on Tuesday. The stock has a market capitalization of $114.17 million, a P/E ratio of -77.20 and a beta of 1.56. QuickLogic has a twelve month low of $7.01 and a twelve month high of $20.75. The company has a 50 day moving average of $7.85 and a 200-day moving average of $9.91. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.01.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results 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). The business had revenue of $4.27 million for the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative return on equity of 7.35% and a negative net margin of 6.83%. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, equities research analysts forecast that QuickLogic will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, CEO Brian C. Faith sold 27,866 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total transaction of $246,056.78. Following the completion of the sale, the chief executive officer now owns 215,849 shares of the company’s stock, valued at $1,905,946.67. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction on Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction of $84,400.00. Following the completion of the sale, the vice president now owns 104,934 shares of the company’s stock, valued at approximately $885,642.96. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian C. Faith sold 27,866 shares of QuickLogic stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total value of $246,056.78. Following the sale, the chief executive officer now directly owns 215,849 shares of the company’s stock, valued at $1,905,946.67. This represents a 0.00 % 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 quarter. 2.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuickLogic

Hedge funds and other institutional investors have recently modified their holdings of the company. Hillsdale Investment Management Inc. lifted 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 buying an additional 4,410 shares in the last quarter. Acuitas Investments LLC lifted its holdings in shares of QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after buying an additional 3,400 shares in the last quarter. Quest Partners LLC lifted 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 worth $84,000 after buying an additional 10,743 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of QuickLogic during the second quarter worth $127,000. Finally, Cutter & CO Brokerage Inc. acquired a new stake in shares of QuickLogic during the third quarter worth $106,000. 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.