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

Shares of QuickLogic Co. (NASDAQ:QUIK) have earned an average rating of “Buy” from the four brokerages that are covering the company, MarketBeat Ratings reports. Three investment 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 brokers that have issued a report on the stock in the last year is $11.53.

Several analysts recently commented on QUIK shares. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Craig Hallum dropped their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Northland Capmk raised QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, Northland Securities started coverage on QuickLogic in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price on the stock.

QuickLogic Price Performance

Shares of NASDAQ:QUIK opened at $9.14 on Friday. The company’s fifty day moving average is $8.60 and its two-hundred day moving average is $8.76. QuickLogic has a 12-month low of $6.75 and a 12-month 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.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (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 business had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same period in the prior year, the company posted $0.08 earnings per share. Equities research analysts predict that QuickLogic will post -0.29 EPS for the current year.

Insider Activity at QuickLogic

In other news, CFO Elias Nader sold 8,711 shares of the business’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the completion of the sale, the chief financial officer now directly owns 60,955 shares in the company, valued at approximately $450,457.45. The trade was a 12.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Brian C. Faith sold 21,402 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the completion of the transaction, the chief executive officer now owns 193,584 shares in the company, valued at $1,430,585.76. The trade was a 9.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,117 shares of company stock valued at $381,460. Insiders own 1.70% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Hedge funds have recently bought and sold shares of the company. State Street Corp increased its stake in shares of QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after purchasing an additional 26,774 shares during the period. Marshall Wace LLP increased its position in QuickLogic by 118.4% in 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 during the period. Bank of New York Mellon Corp boosted its position in shares of QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after acquiring an additional 38,273 shares during the period. Squarepoint Ops LLC grew its stake in shares of QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares during the last quarter. Finally, Barclays PLC increased its position in QuickLogic by 34.8% during the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 5,079 shares during the period. 31.54% of the stock is currently owned by 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.