QuickLogic (NASDAQ:QUIK) Now Covered by Analysts at Northland Securities

Research analysts at Northland Securities started coverage on shares of QuickLogic (NASDAQ:QUIK) in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm set an “outperform” rating and a $11.60 price target on the semiconductor company’s stock. Northland Securities’ price objective would suggest a potential upside of 43.39% from the company’s previous close.

QUIK has been the topic of a number of other research reports. Craig Hallum dropped their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com raised QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.53.

QuickLogic Price Performance

QUIK stock opened at $8.09 on Tuesday. The firm has a 50 day moving average of $7.88 and a 200-day moving average of $9.00. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75. The firm has a market capitalization of $119.00 million, a P/E ratio of -80.90 and a beta of 1.59.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The business had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.20 million. During the same period last year, the business posted $0.08 earnings per share. As a group, sell-side analysts predict that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Brian C. Faith sold 21,402 shares of the firm’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $158,160.78. Following the transaction, the chief executive officer now owns 193,584 shares in the company, valued at approximately $1,430,585.76. This trade represents a 9.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 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 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 three months. 2.49% of the stock is owned by insiders.

Institutional Trading of QuickLogic

A number of institutional investors have recently made changes to their positions in QUIK. Quest Partners LLC raised its stake in shares of 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 buying an additional 10,743 shares during the last quarter. Acuitas Investments LLC boosted its holdings in QuickLogic by 54.0% in the 2nd 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 during the last quarter. Cutter & CO Brokerage Inc. acquired a new position in shares of QuickLogic during the 3rd quarter worth approximately $106,000. XTX Topco Ltd acquired a new position in shares of QuickLogic during the 2nd quarter worth approximately $127,000. Finally, Barclays PLC boosted its holdings in shares of QuickLogic by 34.8% during the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the last quarter. Institutional investors and hedge funds 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.