Northland Capmk Upgrades QuickLogic (NASDAQ:QUIK) to Strong-Buy

QuickLogic (NASDAQ:QUIK) was upgraded by analysts at Northland Capmk to a “strong-buy” rating in a report released on Tuesday,Zacks.com reports.

A number of other research firms also recently issued reports on QUIK. Northland Securities started coverage on shares of QuickLogic in a report on Tuesday. They issued an “outperform” rating and a $11.60 price objective on the stock. StockNews.com upgraded QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Finally, Craig Hallum dropped their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $11.53.

QuickLogic Trading Down 2.3 %

QUIK opened at $8.21 on Tuesday. QuickLogic has a twelve month low of $6.75 and a twelve month high of $20.75. The firm has a market cap of $120.74 million, a PE ratio of -82.10 and a beta of 1.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The firm’s fifty day moving average is $7.88 and its two-hundred day moving average is $8.96.

QuickLogic (NASDAQ:QUIK) last posted its 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). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The business had revenue of $4.27 million for the quarter, compared to the consensus estimate of $4.20 million. During the same quarter in the prior year, the firm posted $0.08 earnings per share. Equities research analysts anticipate that QuickLogic will post -0.29 EPS for the current year.

Insider Transactions at QuickLogic

In related news, CEO Brian C. Faith sold 21,402 shares of the company’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 $158,160.78. Following the transaction, the chief executive officer now directly owns 193,584 shares in the company, valued at approximately $1,430,585.76. This represents a 9.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction dated Monday, November 18th. The stock was 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 owns 108,004 shares of the company’s stock, valued at $750,627.80. This trade represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 52,117 shares of company stock worth $381,460. 2.49% of the stock is owned by company insiders.

Institutional Trading of QuickLogic

Large investors have recently modified their holdings of the stock. Raymond James & Associates lifted its stake in QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 58,668 shares during the last quarter. Marshall Wace LLP grew its position 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 acquiring an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp raised its stake in QuickLogic by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after acquiring an additional 38,273 shares in the last quarter. Squarepoint Ops LLC raised its stake in QuickLogic by 194.3% during the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after acquiring an additional 26,774 shares during the last quarter. 31.54% of the stock is owned by institutional investors and hedge funds.

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.