Brokerages Anticipate QuickLogic Co. (NASDAQ:QUIK) to Announce ($0.02) EPS

Shares of QuickLogic Co. (NASDAQ:QUIK) have been given an average broker rating score of 1.67 (Buy) from the three brokers that cover the company, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating and two have issued a strong buy rating on the company.

Brokers have set a twelve-month consensus target price of $1.12 for the company and are anticipating that the company will post ($0.02) EPS for the current quarter, according to Zacks. Zacks has also given QuickLogic an industry rank of 40 out of 255 based on the ratings given to its competitors.

A number of brokerages have commented on QUIK. CIBC began coverage on shares of QuickLogic in a research note on Thursday, August 15th. They issued an “outperform” rating on the stock. ValuEngine downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Zacks Investment Research upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a research note on Wednesday, October 9th. Finally, Oppenheimer began coverage on shares of QuickLogic in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $1.00 target price on the stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of QuickLogic by 38.4% in the 2nd quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 41,219 shares during the period. NJ State Employees Deferred Compensation Plan lifted its position in shares of QuickLogic by 22.7% in the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the semiconductor company’s stock worth $155,000 after purchasing an additional 50,000 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of QuickLogic by 731.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 58,438 shares during the period. Vanguard Group Inc. lifted its position in shares of QuickLogic by 10.2% in the 2nd quarter. Vanguard Group Inc. now owns 4,167,499 shares of the semiconductor company’s stock worth $2,398,000 after purchasing an additional 385,317 shares during the period. Finally, Worth Venture Partners LLC lifted its position in shares of QuickLogic by 797.2% in the 2nd quarter. Worth Venture Partners LLC now owns 1,131,341 shares of the semiconductor company’s stock worth $651,000 after purchasing an additional 1,005,247 shares during the period. 19.96% of the stock is owned by hedge funds and other institutional investors.

Shares of QUIK stock traded up $0.02 during trading hours on Monday, hitting $0.25. 622,700 shares of the company’s stock traded hands, compared to its average volume of 419,729. The stock has a market cap of $28.79 million, a price-to-earnings ratio of -1.67 and a beta of 0.39. QuickLogic has a 12-month low of $0.20 and a 12-month high of $1.19. The stock’s fifty day simple moving average is $0.34 and its two-hundred day simple moving average is $0.51. The company has a quick ratio of 1.68, a current ratio of 1.71 and a debt-to-equity ratio of 0.09.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Wednesday, November 6th. The semiconductor company reported ($0.03) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. The business had revenue of $2.16 million for the quarter, compared to the consensus estimate of $2.10 million. QuickLogic had a negative net margin of 144.73% and a negative return on equity of 85.41%. During the same period in the prior year, the firm earned ($0.03) EPS. On average, equities analysts forecast that QuickLogic will post -0.12 earnings per share for the current fiscal year.

About QuickLogic

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

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