Zacks Investment Research Upgrades QuickLogic (NASDAQ:QUIK) to Hold

QuickLogic (NASDAQ:QUIK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday, Zacks.com reports.

According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “

Separately, Roth Capital lifted their price target on QuickLogic from $3.00 to $7.00 and gave the stock a “neutral” rating in a report on Thursday, February 25th.

NASDAQ:QUIK opened at $5.88 on Wednesday. The stock has a market cap of $66.27 million, a P/E ratio of -4.56 and a beta of 1.99. The stock has a 50 day simple moving average of $7.35 and a 200 day simple moving average of $4.79. The company has a current ratio of 1.60, a quick ratio of 1.44 and a debt-to-equity ratio of 0.04. QuickLogic has a 1-year low of $2.52 and a 1-year high of $12.49.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Tuesday, February 16th. The semiconductor company reported ($0.15) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.02). The firm had revenue of $2.50 million for the quarter, compared to analyst estimates of $2.70 million. QuickLogic had a negative return on equity of 78.90% and a negative net margin of 125.18%. During the same period in the previous year, the business posted ($0.29) earnings per share. As a group, sell-side analysts forecast that QuickLogic will post -1.12 EPS for the current year.

In related news, Director Andrew J. Pease acquired 6,104 shares of the company’s stock in a transaction on Monday, February 22nd. The stock was purchased at an average cost of $7.89 per share, with a total value of $48,160.56. Following the acquisition, the director now directly owns 9,410 shares of the company’s stock, valued at $74,244.90. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.87% of the stock is owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the company. Adalta Capital Management LLC bought a new position in shares of QuickLogic in the 4th quarter valued at $76,000. Renaissance Technologies LLC bought a new position in shares of QuickLogic in the 4th quarter valued at $95,000. BlackRock Inc. increased its stake in shares of QuickLogic by 5.1% in the 4th quarter. BlackRock Inc. now owns 152,717 shares of the semiconductor company’s stock valued at $578,000 after purchasing an additional 7,361 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in shares of QuickLogic in the 3rd quarter valued at $42,000. Institutional investors own 26.10% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable, hearable, tablets, and the Internet-of-Things devices. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low power field programmable gate arrays (FPGAs); and analytics toolkit, an end-to-end software suite that offers processes for developing pattern matching sensor algorithms using machine learning technology, as well as programming hardware and design software solutions.

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