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

QuickLogic Co. (NASDAQ:QUIK) has received a consensus recommendation of “Buy” from the four brokerages that are currently covering the company, Marketbeat reports. Three research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $11.53.

Several research firms have recently weighed in on QUIK. Northland Capmk raised QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Northland Securities began coverage on QuickLogic in a research report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 target price on the stock. Craig Hallum cut their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com raised QuickLogic to a “sell” rating in a research report on Wednesday, December 11th.

QuickLogic Stock Performance

NASDAQ QUIK opened at $7.09 on Thursday. The company has a market cap of $104.29 million, a P/E ratio of -70.90 and a beta of 1.39. 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 business’s 50 day moving average price is $8.84 and its 200-day moving average price is $8.39. QuickLogic has a fifty-two week low of $6.75 and a fifty-two week high of $20.75.

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

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the transaction, the vice president now owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. This represents a 8.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction, the chief executive officer now directly owns 193,584 shares in the company, valued at $1,430,585.76. The trade was a 9.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 54,960 shares of company stock valued at $400,650 in the last quarter. 2.49% of the stock is owned by insiders.

Hedge Funds Weigh In On QuickLogic

Hedge funds and other institutional investors have recently made changes to their positions in the company. State Street Corp grew its position in shares of QuickLogic by 15.6% during the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after buying an additional 26,774 shares in the last quarter. Barclays PLC grew its position in shares of QuickLogic by 34.8% during the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after buying an additional 5,079 shares in the last quarter. Quest Partners LLC grew its position in shares of QuickLogic by 5,067.5% during the 3rd 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. Squarepoint Ops LLC grew its position in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after buying an additional 36,409 shares in the last quarter. Finally, Marshall Wace LLP grew its position in shares of QuickLogic by 118.4% during the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after buying an additional 39,878 shares in the last quarter. Institutional investors own 31.54% of the company’s stock.

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.