QuickLogic (NASDAQ:QUIK) Price Target Cut to $13.00 by Analysts at Oppenheimer

QuickLogic (NASDAQ:QUIK) had its price target trimmed by Oppenheimer from $16.00 to $13.00 in a research note published on Wednesday, Benzinga reports. The firm currently has an outperform rating on the semiconductor company’s stock.

QUIK has been the subject of a number of other research reports. StockNews.com lowered QuickLogic from a hold rating to a sell rating in a research note on Tuesday. Craig Hallum dropped their price objective on QuickLogic from $16.00 to $12.00 and set a buy rating for the company in a research note on Wednesday.

QuickLogic Stock Performance

NASDAQ:QUIK traded up $0.67 during mid-day trading on Wednesday, hitting $8.89. 134,038 shares of the company traded hands, compared to its average volume of 263,889. The stock’s fifty day moving average price is $10.64 and its 200-day moving average price is $12.72. QuickLogic has a one year low of $7.25 and a one year high of $20.75. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The firm has a market cap of $128.23 million, a price-to-earnings ratio of 146.83 and a beta of 1.63.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Tuesday, August 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $4.13 million for the quarter, compared to the consensus estimate of $4.50 million. QuickLogic had a net margin of 4.65% and a return on equity of 6.57%. During the same period in the prior year, the firm posted ($0.17) EPS. Research analysts anticipate that QuickLogic will post 0.22 earnings per share for the current fiscal year.

Insider Activity at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.76, for a total transaction of $117,600.00. Following the sale, the vice president now directly owns 114,934 shares in the company, valued at $1,351,623.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuickLogic

Hedge funds and other institutional investors have recently modified their holdings of the business. Hillsdale Investment Management Inc. raised its holdings in shares of QuickLogic by 918.8% in the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after buying an additional 4,410 shares during the period. Acuitas Investments LLC raised its holdings in shares of QuickLogic by 54.0% in the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after buying an additional 3,400 shares during the period. XTX Topco Ltd purchased a new stake in shares of QuickLogic in the second quarter worth approximately $127,000. Rhumbline Advisers purchased a new stake in shares of QuickLogic in the second quarter worth approximately $172,000. Finally, Gladstone Institutional Advisory LLC raised its holdings in shares of QuickLogic by 13.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock worth $179,000 after buying an additional 1,565 shares during the period. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

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.