QuickLogic (NASDAQ:QUIK) Price Target Lowered to $12.00 at Craig Hallum

QuickLogic (NASDAQ:QUIK) had its price target lowered by analysts at Craig Hallum from $16.00 to $12.00 in a report released on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s price objective would indicate a potential upside of 27.39% from the stock’s previous close.

Separately, StockNews.com downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday.

QuickLogic Trading Up 6.6 %

Shares of NASDAQ:QUIK opened at $9.42 on Wednesday. The business’s 50 day moving average price is $10.73 and its 200-day moving average price is $12.75. QuickLogic has a 1 year low of $7.11 and a 1 year high of $20.75. The firm has a market capitalization of $135.84 million, a price-to-earnings ratio of 157.00 and a beta of 1.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.24 and a quick ratio of 1.17.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Monday, May 13th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. QuickLogic had a net margin of 4.65% and a return on equity of 6.57%. The business had revenue of $6.01 million for the quarter, compared to the consensus estimate of $6.20 million. On average, equities research analysts forecast that QuickLogic will post 0.22 earnings per share for the current fiscal year.

Insider Activity at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 114,934 shares of the company’s stock, valued at $1,351,623.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

A number of institutional investors have recently added to or reduced their stakes in QUIK. Gladstone Institutional Advisory LLC increased its stake in shares of QuickLogic by 13.8% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock worth $179,000 after acquiring an additional 1,565 shares during the last quarter. Raymond James & Associates grew its holdings in shares of QuickLogic by 7.9% in the fourth quarter. Raymond James & Associates now owns 42,181 shares of the semiconductor company’s stock valued at $585,000 after purchasing an additional 3,091 shares during the period. Acuitas Investments LLC increased its position in QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 3,400 shares during the last quarter. American Century Companies Inc. raised its stake in QuickLogic by 24.8% during the second quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 3,750 shares during the period. Finally, Hillsdale Investment Management Inc. raised its stake in QuickLogic by 918.8% during the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 4,410 shares during the period. Hedge funds and other institutional investors 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.