QuickLogic Co. (NASDAQ:QUIK) Receives $11.53 Consensus Target Price from Analysts

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

Several equities research analysts have commented on QUIK shares. StockNews.com upgraded shares of QuickLogic to a "sell" rating in a research note on Wednesday, December 11th. Northland Capmk raised QuickLogic to a "strong-buy" rating in a research note on Tuesday. Northland Securities assumed coverage on QuickLogic in a report on Tuesday. They set an "outperform" rating and a $11.60 price target on the stock. Finally, Craig Hallum reduced their price objective 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.

QuickLogic Stock Performance

QUIK traded down $0.19 on Wednesday, hitting $8.21. 288,978 shares of the company's stock were exchanged, compared to its average volume of 222,306. The firm has a market cap of $120.74 million, a PE ratio of -82.10 and a beta of 1.59. The stock has a fifty day moving average of $7.88 and a two-hundred day moving average of $8.96. QuickLogic has a twelve month low of $6.75 and a twelve 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.

QuickLogic (NASDAQ:QUIK - Get Free Report) last announced its quarterly earnings results 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 net margin of 6.83% and a negative return on equity of 7.30%. The firm had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same period last year, the firm posted $0.08 EPS. On average, research analysts anticipate that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Activity at QuickLogic

In related news, CFO Elias Nader sold 8,711 shares of the company's stock in a transaction that occurred 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 owns 60,955 shares in the company, valued at approximately $450,457.45. This represents a 12.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Timothy Saxe sold 10,886 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 $80,447.54. Following the transaction, the vice president now owns 117,609 shares in the company, valued at approximately $869,130.51. The trade was a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,117 shares of company stock valued at $381,460 over the last ninety days. Insiders own 2.49% of the company's stock.

Institutional Trading of QuickLogic

Several institutional investors have recently made changes to their positions in QUIK. Raymond James & Associates lifted its holdings in shares of QuickLogic by 83.1% during the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company's stock valued at $1,343,000 after buying an additional 58,668 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company's stock worth $676,000 after buying an additional 38,273 shares in the last quarter. Rhumbline Advisers bought a new position in QuickLogic in the 2nd quarter valued at $172,000. Acuitas Investments LLC lifted its holdings in QuickLogic by 54.0% during the 2nd 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 in the last quarter. Finally, American Century Companies Inc. boosted its position in shares of QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company's stock worth $196,000 after purchasing an additional 3,750 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

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.