Craig Hallum Lowers QuickLogic (NASDAQ:QUIK) Price Target to $10.00

QuickLogic (NASDAQ:QUIK) had its price target dropped by investment analysts at Craig Hallum from $12.00 to $10.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price points to a potential upside of 33.33% from the stock’s current price.

Other equities analysts have also recently issued reports about the stock. StockNews.com cut shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Oppenheimer cut their price objective on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th.

QuickLogic Stock Performance

Shares of NASDAQ:QUIK traded down $0.64 during mid-day trading on Tuesday, reaching $7.50. The company had a trading volume of 274,147 shares, compared to its average volume of 229,417. The firm has a market cap of $108.50 million, a price-to-earnings ratio of 62.50 and a beta of 1.56. QuickLogic has a one year low of $7.01 and a one year high of $20.75. The company’s 50-day moving average price is $7.85 and its 200-day moving average price is $9.95. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Tuesday, August 13th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.06). The business had revenue of $4.13 million during the quarter, compared to the consensus estimate of $4.50 million. QuickLogic had a return on equity of 9.56% and a net margin of 7.38%. During the same quarter in the previous year, the company earned ($0.17) earnings per share. As a group, equities research analysts anticipate that QuickLogic will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In other QuickLogic news, CEO Brian C. Faith sold 27,866 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total transaction of $246,056.78. Following the completion of the transaction, the chief executive officer now owns 215,849 shares in the company, valued at $1,905,946.67. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $7.42, for a total transaction of $33,078.36. Following the transaction, the chief financial officer now owns 52,740 shares of the company’s stock, valued at approximately $391,330.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Brian C. Faith sold 27,866 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total value of $246,056.78. Following the completion of the sale, the chief executive officer now owns 215,849 shares of the company’s stock, valued at approximately $1,905,946.67. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,202 shares of company stock worth $378,653. Insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Several hedge funds and other institutional investors have recently made changes to their positions in QUIK. Quest Partners LLC boosted 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 worth $84,000 after purchasing an additional 10,743 shares during the period. Cutter & CO Brokerage Inc. bought a new position in shares of QuickLogic during the third quarter valued at approximately $106,000. Squarepoint Ops LLC raised its holdings in shares of QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after buying an additional 36,409 shares during the period. Marshall Wace LLP raised its holdings in shares of QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after buying an additional 39,878 shares during the period. Finally, XTX Topco Ltd bought a new stake in shares of QuickLogic during the 2nd quarter worth approximately $127,000. 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.