QuickLogic (NASDAQ:QUIK) Stock Rating Upgraded by Wall Street Zen

QuickLogic (NASDAQ:QUIK) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a research note issued to investors on Saturday.

A number of other analysts have also weighed in on the company. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 target price (up from $11.00) on shares of QuickLogic in a research note on Wednesday. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, QuickLogic presently has a consensus rating of “Hold” and an average target price of $22.00.

QuickLogic Price Performance

Shares of QuickLogic stock opened at $19.10 on Friday. The stock has a market capitalization of $348.19 million, a price-to-earnings ratio of -21.46 and a beta of 1.11. The company has a fifty day moving average of $12.25 and a 200-day moving average of $8.87. QuickLogic has a 52-week low of $4.80 and a 52-week high of $22.69. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The business had revenue of $5.05 million during the quarter, compared to the consensus estimate of $5.51 million. QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%. Equities research analysts expect that QuickLogic will post -0.2 EPS for the current year.

Insider Activity

In other QuickLogic news, Director Michael J. Farese sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $11.71, for a total value of $56,208.00. Following the completion of the sale, the director directly owned 30,540 shares in the company, valued at $357,623.40. This trade represents a 13.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 14,670 shares of company stock worth $153,937 in the last 90 days. 3.20% of the stock is owned by insiders.

Institutional Trading of QuickLogic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its holdings in QuickLogic by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock worth $282,000 after acquiring an additional 21,275 shares in the last quarter. Jane Street Group LLC bought a new position in shares of QuickLogic during the first quarter valued at $87,000. XTX Topco Ltd purchased a new position in shares of QuickLogic in the 2nd quarter worth about $171,000. Qube Research & Technologies Ltd raised its position in shares of QuickLogic by 40.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock worth $613,000 after purchasing an additional 28,751 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its stake in QuickLogic by 2.8% in the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after purchasing an additional 5,721 shares in the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.