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

QuickLogic Co. (NASDAQ:QUIK - Get Free Report) has been given an average rating of "Buy" by the four analysts that are currently covering the firm, Marketbeat.com reports. Three research analysts have rated the stock with a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $11.53.

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

Insider Buying and Selling at QuickLogic

In other news, CEO Brian C. Faith sold 21,402 shares of the stock in a transaction that occurred 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 directly owns 193,584 shares of the company's stock, valued at $1,430,585.76. This represents a 9.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction 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 $450,457.45. This trade represents a 12.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,117 shares of company stock worth $381,460 in the last quarter. 2.49% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QUIK. Quest Partners LLC lifted its holdings in QuickLogic by 5,067.5% during the third 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. XTX Topco Ltd bought a new stake in shares of QuickLogic in the second quarter valued at approximately $127,000. Cutter & CO Brokerage Inc. purchased a new stake in shares of QuickLogic during the 3rd quarter valued at approximately $106,000. Rhumbline Advisers bought a new position in QuickLogic in the 2nd quarter worth approximately $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 buying an additional 3,750 shares in the last quarter. Institutional investors own 31.54% of the company's stock.

QuickLogic Stock Down 4.2 %

Shares of QUIK traded down $0.39 during trading hours on Friday, reaching $8.85. The stock had a trading volume of 313,028 shares, compared to its average volume of 411,660. The firm has a 50-day simple moving average of $8.51 and a 200 day simple moving average of $8.80. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $130.16 million, a price-to-earnings ratio of -88.50 and a beta of 1.42.

QuickLogic (NASDAQ:QUIK - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.01). The business had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same period last year, the business posted $0.08 earnings per share. Equities research analysts predict that QuickLogic will post -0.29 earnings per share for the current fiscal 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.