QuickLogic Co. (NASDAQ:QUIK) Given Average Recommendation of “Buy” by Analysts

Shares of QuickLogic Co. (NASDAQ:QUIK) have been given a consensus rating of “Buy” by the four ratings firms that are presently covering the firm, Marketbeat reports. Three research analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $11.53.

QUIK has been the topic of a number of research analyst reports. 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 research report on Tuesday, November 12th. Northland Capmk upgraded QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Northland Securities initiated coverage on QuickLogic in a report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price for the company. Finally, StockNews.com upgraded QuickLogic to a “sell” rating in a report on Wednesday, December 11th.

QuickLogic Price Performance

Shares of QUIK opened at $8.85 on Friday. The business has a 50-day moving average of $8.51 and a 200-day moving average of $8.82. QuickLogic has a 1 year low of $6.75 and a 1 year high of $20.75. The company has a market capitalization of $130.16 million, a price-to-earnings ratio of -88.50 and a beta of 1.42. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 analyst estimates of $4.20 million. During the same quarter last year, the firm posted $0.08 EPS. As a group, equities research analysts anticipate that QuickLogic will post -0.29 earnings per share for the current year.

Insider Activity

In related news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value 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 approximately $750,627.80. This trade represents a 8.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian C. Faith sold 21,402 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $158,160.78. Following the transaction, the chief executive officer now owns 193,584 shares in the company, valued at approximately $1,430,585.76. The trade was a 9.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,117 shares of company stock worth $381,460 in the last three months. Company insiders own 2.49% of the company’s stock.

Institutional Trading of QuickLogic

Institutional investors have recently made changes to their positions in the company. Quest Partners LLC grew its position in QuickLogic by 5,067.5% in the 3rd quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares in the last quarter. XTX Topco Ltd bought a new position in shares of QuickLogic in the second quarter valued at approximately $127,000. Cutter & CO Brokerage Inc. bought a new stake in QuickLogic during the third quarter worth $106,000. Rhumbline Advisers purchased a new position in QuickLogic in the second quarter worth $172,000. Finally, American Century Companies Inc. grew its stake in QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 3,750 shares during the period. 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.