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

Shares of QuickLogic Co. (NASDAQ:QUIK) have received an average rating of “Buy” from the four analysts that are presently covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $11.53.

QUIK has been the subject of several research reports. Northland Securities started coverage on QuickLogic in a research report on Tuesday. They issued an “outperform” rating and a $11.60 target price for the company. Craig Hallum decreased their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday.

Insiders Place Their Bets

In related news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian C. Faith sold 21,402 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the sale, the chief executive officer now 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 disclosure for this sale can be found here. Insiders have sold 52,117 shares of company stock valued at $381,460 over the last three months. Company insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently modified their holdings of the stock. Quest Partners LLC raised 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 valued at $84,000 after acquiring an additional 10,743 shares during the period. Acuitas Investments LLC grew its position in QuickLogic by 54.0% during the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in QuickLogic during the 3rd quarter valued at $106,000. XTX Topco Ltd purchased a new stake in shares of QuickLogic in the second quarter valued at $127,000. Finally, Barclays PLC boosted its position in shares of QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after buying an additional 5,079 shares during the period. 31.54% of the stock is currently owned by institutional investors and hedge funds.

QuickLogic Stock Down 1.5 %

NASDAQ QUIK opened at $7.84 on Wednesday. The stock has a market cap of $115.30 million, a PE ratio of -78.40 and a beta of 1.59. The business has a 50 day moving average price of $7.84 and a two-hundred day moving average price of $8.92. QuickLogic has a fifty-two week low of $6.75 and a fifty-two week high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data 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). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The business had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same quarter last year, the business earned $0.08 EPS. As a group, sell-side analysts predict that QuickLogic will post -0.29 EPS for the current fiscal year.

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.