QuickLogic (NASDAQ:QUIK) Price Target Cut to $13.00 by Analysts at Oppenheimer

QuickLogic (NASDAQ:QUIK) had its price target reduced by equities research analysts at Oppenheimer from $16.00 to $13.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price suggests a potential upside of 45.41% from the company’s previous close.

A number of other analysts have also commented on the stock. StockNews.com lowered shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday. Craig Hallum cut their target price on shares of QuickLogic from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday.

QuickLogic Stock Up 8.8 %

NASDAQ:QUIK opened at $8.94 on Wednesday. The firm has a market cap of $128.95 million, a P/E ratio of 149.00 and a beta of 1.63. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.17 and a current ratio of 1.24. QuickLogic has a fifty-two week low of $7.25 and a fifty-two week high of $20.75. The firm has a 50-day simple moving average of $10.58 and a two-hundred day simple moving average of $12.69.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Tuesday, August 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). QuickLogic had a net margin of 4.65% and a return on equity of 6.57%. The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $4.50 million. During the same quarter in the prior year, the business posted ($0.17) earnings per share. Analysts predict that QuickLogic will post 0.22 earnings per share for the current fiscal year.

Insider Activity at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $11.76, for a total transaction of $117,600.00. Following the transaction, the vice president now owns 114,934 shares of the company’s stock, valued at $1,351,623.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently modified their holdings of the stock. Hillsdale Investment Management Inc. lifted its holdings in shares of QuickLogic by 918.8% in the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after buying an additional 4,410 shares in the last quarter. Acuitas Investments LLC lifted its holdings 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 buying an additional 3,400 shares in the last quarter. XTX Topco Ltd purchased a new position in shares of QuickLogic in the second quarter worth $127,000. Thompson Davis & CO. Inc. bought a new stake in QuickLogic in the first quarter worth $202,000. Finally, Gladstone Institutional Advisory LLC increased its position in QuickLogic by 13.8% in the fourth quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock worth $179,000 after purchasing an additional 1,565 shares during the last quarter. Hedge funds and other institutional investors 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.