QuickLogic (NASDAQ:QUIK) PT Lowered to $13.00 at Oppenheimer

QuickLogic (NASDAQ:QUIK) had its price objective reduced by investment analysts at Oppenheimer from $16.00 to $13.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would indicate a potential upside of 38.00% from the company’s current price.

Other equities analysts also recently issued research reports about the company. StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday. Craig Hallum dropped their target price on QuickLogic from $16.00 to $12.00 and set a “buy” rating for the company in a research report on Wednesday.

QuickLogic Trading Up 6.6 %

Shares of QUIK opened at $9.42 on Wednesday. The stock has a fifty day moving average price of $10.73 and a two-hundred day moving average price of $12.75. 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 52-week low of $7.11 and a 52-week high of $20.75. The company has a market cap of $135.84 million, a price-to-earnings ratio of 157.00 and a beta of 1.63.

QuickLogic (NASDAQ:QUIK) last issued 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 return on equity of 6.57% and a net margin of 4.65%. The firm had revenue of $6.01 million during the quarter, compared to the consensus estimate of $6.20 million. Analysts predict that QuickLogic will post 0.22 EPS for the current fiscal year.

Insider Transactions at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction on Monday, May 20th. The stock was 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 in the company, valued at $1,351,623.84. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 2.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new stake in shares of QuickLogic during the first quarter worth $1,719,000. Raymond James & Associates grew its stake in shares of QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 58,668 shares during the period. Bank of New York Mellon Corp grew its stake in shares of QuickLogic by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after purchasing an additional 38,273 shares during the period. Virtu Financial LLC acquired a new stake in shares of QuickLogic during the first quarter worth $447,000. Finally, Greenwood Capital Associates LLC acquired a new stake in shares of QuickLogic during the first quarter worth $436,000. 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.