QuickLogic (NASDAQ:QUIK) Upgraded by Northland Capmk to "Strong-Buy" Rating

QuickLogic (NASDAQ:QUIK - Get Free Report) was upgraded by investment analysts at Northland Capmk to a "strong-buy" rating in a research note issued to investors on Tuesday,Zacks.com reports.

QUIK has been the subject of a number of other reports. StockNews.com raised QuickLogic to a "sell" rating in a report on Wednesday, December 11th. Craig Hallum cut their target price on QuickLogic from $12.00 to $10.00 and set a "buy" rating on the stock in a research report on Tuesday, November 12th. Finally, Northland Securities initiated coverage on QuickLogic in a research report on Tuesday. They issued an "outperform" rating and a $11.60 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $11.53.

QuickLogic Stock Down 2.3 %

Shares of NASDAQ:QUIK traded down $0.19 during trading on Tuesday, reaching $8.21. 288,978 shares of the stock were exchanged, compared to its average volume of 222,306. QuickLogic has a 1-year low of $6.75 and a 1-year high of $20.75. The stock has a fifty day moving average of $7.88 and a two-hundred day moving average of $8.97. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. The firm has a market cap of $120.77 million, a price-to-earnings ratio of -82.10 and a beta of 1.59.

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 the consensus estimate of ($0.05) by ($0.01). The business had revenue of $4.27 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the company posted $0.08 EPS. Research analysts anticipate that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling 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 stock was sold at an average price of $7.39, for a total value of $64,374.29. Following the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian C. Faith sold 21,402 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 $158,160.78. Following the completion of the sale, the chief executive officer now owns 193,584 shares in the company, valued at approximately $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. 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 Investors Weigh In On QuickLogic

Several large investors have recently added to or reduced their stakes in QUIK. Acuitas Investments LLC increased its stake in shares of QuickLogic by 54.0% in the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company's stock worth $101,000 after purchasing an additional 3,400 shares in the last quarter. American Century Companies Inc. boosted its holdings in 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 buying an additional 3,750 shares during the period. Barclays PLC grew its stake in QuickLogic by 34.8% in the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company's stock valued at $150,000 after buying an additional 5,079 shares in the last quarter. Quest Partners LLC raised its holdings in 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 acquiring an additional 10,743 shares during the period. Finally, XTX Topco Ltd bought a new stake in QuickLogic during the 2nd quarter valued at $127,000. Hedge funds and other institutional investors own 31.54% of the company's stock.

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.