QuickLogic (NASDAQ:QUIK) Earns Outperform Rating from Analysts at Northland Securities

Analysts at Northland Securities assumed coverage on shares of QuickLogic (NASDAQ:QUIK - Get Free Report) in a research report issued on Tuesday, MarketBeat Ratings reports. The firm set an "outperform" rating and a $11.60 price target on the semiconductor company's stock. Northland Securities' price objective suggests a potential upside of 38.10% from the company's current price.

QUIK has been the subject of a number of other research reports. Craig Hallum reduced their price target on QuickLogic from $12.00 to $10.00 and set a "buy" rating for the company 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. One analyst has rated the stock with a sell rating and three have assigned a buy rating to the stock. According to MarketBeat, QuickLogic currently has an average rating of "Moderate Buy" and a consensus price target of $11.53.

QuickLogic Stock Up 3.8 %

Shares of NASDAQ QUIK traded up $0.31 during trading on Tuesday, reaching $8.40. The company had a trading volume of 202,562 shares, compared to its average volume of 222,031. The business's 50-day moving average is $7.88 and its 200 day moving average is $9.00. QuickLogic has a 12-month low of $6.75 and a 12-month high of $20.75. The stock has a market cap of $123.56 million, a PE ratio of -80.90 and a beta of 1.59. The company has a quick ratio of 1.05, a current ratio of 1.12 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 for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $4.27 million during the quarter, compared to analysts' expectations of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same period in the previous year, the company posted $0.08 EPS. As a group, equities analysts forecast 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 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 $64,374.29. Following the completion of the transaction, the chief financial officer now directly owns 60,955 shares of the company's stock, valued at approximately $450,457.45. This trade represents a 12.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the transaction, the vice president now owns 108,004 shares of the company's stock, valued at approximately $750,627.80. This trade represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 52,117 shares of company stock worth $381,460 over the last quarter. 2.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

Several hedge funds and other institutional investors have recently bought and sold shares of the business. American Century Companies Inc. grew its position in shares of QuickLogic by 24.8% in the second quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company's stock valued at $196,000 after purchasing an additional 3,750 shares in the last quarter. Quest Partners LLC boosted its holdings in shares of QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company's stock valued at $84,000 after acquiring an additional 10,743 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in 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 purchasing an additional 38,273 shares during the last quarter. Raymond James & Associates increased its position in QuickLogic by 83.1% during the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company's stock worth $1,343,000 after purchasing an additional 58,668 shares in the last quarter. Finally, Rhumbline Advisers acquired a new stake in shares of QuickLogic in the second quarter worth approximately $172,000. Institutional investors and hedge funds own 31.54% of the company's stock.

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.