QuickLogic Co. (NASDAQ:QUIK) Receives Consensus Rating of “Buy” from Brokerages

Shares of QuickLogic Co. (NASDAQ:QUIK) have been assigned an average rating of “Buy” from the four ratings firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $11.53.

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

Insider Activity

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the sale, the vice president now owns 108,004 shares in the company, valued at $750,627.80. This trade represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Brian C. Faith sold 21,402 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $158,160.78. Following the completion of the transaction, the chief executive officer now owns 193,584 shares of the company’s stock, 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 worth $381,460. 2.49% of the stock is currently owned by insiders.

Institutional Trading of QuickLogic

A number of hedge funds have recently bought and sold shares of the company. Crews Bank & Trust purchased a new position in shares of QuickLogic during the fourth quarter worth approximately $28,000. Quest Partners LLC grew its holdings 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 valued at $84,000 after purchasing an additional 10,743 shares during the last quarter. Cutter & CO Brokerage Inc. purchased a new position in QuickLogic in the 3rd quarter worth $106,000. Barclays PLC lifted its stake in QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the last quarter. Finally, Sprott Inc. purchased a new stake in QuickLogic during the fourth quarter valued at about $170,000. Institutional investors own 31.54% of the company’s stock.

QuickLogic Stock Performance

Shares of QuickLogic stock opened at $7.94 on Thursday. 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 stock has a market capitalization of $116.77 million, a P/E ratio of -79.40 and a beta of 1.39. QuickLogic has a 52-week low of $6.75 and a 52-week high of $20.75. The stock’s 50-day simple moving average is $8.88 and its 200 day simple moving average is $8.52.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The business had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.20 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. As a group, research analysts anticipate that QuickLogic will post -0.29 EPS for the current year.

QuickLogic Company Profile

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.