Needham & Company LLC Reiterates Buy Rating for QuickLogic (NASDAQ:QUIK)

QuickLogic (NASDAQ:QUIK)‘s stock had its “buy” rating reaffirmed by investment analysts at Needham & Company LLC in a research report issued on Monday, Benzinga reports. They presently have a $20.00 target price on the semiconductor company’s stock. Needham & Company LLC’s price objective points to a potential upside of 86.57% from the stock’s current price.

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $21.00.

QuickLogic Stock Performance

Shares of QUIK stock traded down $0.51 on Monday, reaching $10.72. The stock had a trading volume of 64,418 shares, compared to its average volume of 347,435. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03. The firm’s 50-day moving average is $11.98 and its two-hundred day moving average is $14.33. The firm has a market capitalization of $196.37 million, a price-to-earnings ratio of -13.90 and a beta of 1.20. QuickLogic has a 12 month low of $5.28 and a 12 month high of $24.33.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $5.48 million during the quarter, compared to the consensus estimate of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. On average, research analysts expect that QuickLogic will post -0.26 EPS for the current fiscal year.

Insider Transactions at QuickLogic

In related news, CFO Elias Nader sold 12,152 shares of QuickLogic stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total transaction of $131,241.60. Following the completion of the transaction, the chief financial officer owned 82,255 shares of the company’s stock, valued at $888,354. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy Saxe sold 15,190 shares of QuickLogic stock in a transaction on Thursday, September 10th. The stock was sold at an average price of $10.80, for a total transaction of $164,052.00. Following the transaction, the vice president directly owned 143,976 shares of the company’s stock, valued at $1,554,940.80. This represents a 9.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 90,044 shares of company stock worth $950,748. Company insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new position in shares of QuickLogic during the first quarter valued at about $111,000. SEB Asset Management AB purchased a new position in QuickLogic during the first quarter valued at approximately $129,000. OMERS ADMINISTRATION Corp purchased a new stake in QuickLogic in the 1st quarter worth approximately $151,000. Maridea Wealth Management LLC purchased a new stake in QuickLogic in the 1st quarter worth approximately $161,000. Finally, Prospera Financial Services Inc increased its holdings in shares of QuickLogic by 59.5% in the 4th quarter. Prospera Financial Services Inc now owns 27,200 shares of the semiconductor company’s stock worth $163,000 after buying an additional 10,150 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops customizable, low-power semiconductor solutions and intellectual property for consumer, industrial, communications, and other electronic devices. Its technologies are designed to help manufacturers add processing, connectivity, display, and sensor capabilities while reducing development time and power consumption.

The company’s offerings include embedded FPGA (eFPGA) intellectual property, which allows programmable logic to be integrated directly into a system-on-chip, as well as customer-specific standard products and related semiconductor solutions.