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

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

QUIK has been the subject of a number of other reports. Northland Securities initiated coverage on shares of QuickLogic in a report on Tuesday. They set an “outperform” rating and a $11.60 target price for the company. StockNews.com raised QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Finally, Craig Hallum cut their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, QuickLogic currently has an average rating of “Moderate Buy” and an average target price of $11.53.

QuickLogic Price Performance

QUIK opened at $8.40 on Tuesday. The firm has a market cap of $123.56 million, a price-to-earnings ratio of -84.00 and a beta of 1.59. QuickLogic has a 1 year low of $6.75 and a 1 year high of $20.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. The stock’s 50 day simple moving average is $7.88 and its 200 day simple moving average is $8.97.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS 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 firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same period in the previous year, the firm earned $0.08 earnings per share. As a group, analysts predict that QuickLogic will post -0.29 earnings per share for the current year.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, CFO Elias Nader sold 8,711 shares of the business’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $64,374.29. Following the sale, the chief financial officer now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Brian C. Faith sold 21,402 shares of the stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $158,160.78. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last three months, insiders have sold 52,117 shares of company stock valued at $381,460. 2.49% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

A number of hedge funds have recently bought and sold shares of QUIK. Quest Partners LLC raised its holdings in QuickLogic by 5,067.5% in 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. Acuitas Investments LLC lifted its position in QuickLogic by 54.0% in the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after acquiring an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. bought a new position in QuickLogic in the 3rd quarter valued at approximately $106,000. XTX Topco Ltd bought a new stake in shares of QuickLogic in the 2nd quarter worth $127,000. Finally, Barclays PLC raised its stake 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 purchasing an additional 5,079 shares during the last quarter. Institutional investors 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.