QuickLogic (NASDAQ:QUIK) Earns Hold Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of QuickLogic (NASDAQ:QUIKGet Rating) in a research note issued to investors on Saturday morning. The firm issued a hold rating on the semiconductor company’s stock.

Other research analysts also recently issued research reports about the stock. Oppenheimer cut their price target on shares of QuickLogic to $8.00 and set a na rating on the stock in a report on Wednesday, May 18th. Zacks Investment Research downgraded shares of QuickLogic from a buy rating to a hold rating in a report on Wednesday, April 20th.

QUIK stock opened at $5.85 on Friday. QuickLogic has a 12-month low of $4.25 and a 12-month high of $8.00. The company has a market cap of $72.32 million, a price-to-earnings ratio of -11.25 and a beta of 2.17. The company has a 50 day moving average of $5.29 and a two-hundred day moving average of $5.32.

QuickLogic (NASDAQ:QUIKGet Rating) last released its earnings results on Tuesday, May 17th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. QuickLogic had a negative net margin of 41.89% and a negative return on equity of 64.64%. The company had revenue of $4.10 million during the quarter, compared to the consensus estimate of $4.00 million. During the same quarter in the prior year, the firm earned ($0.15) EPS. As a group, analysts expect that QuickLogic will post -0.24 EPS for the current fiscal year.

In related news, CEO Brian C. Faith sold 41,170 shares of QuickLogic stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $4.36, for a total value of $179,501.20. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brian C. Faith sold 9,156 shares of QuickLogic stock in a transaction on Friday, April 22nd. The stock was sold at an average price of $4.85, for a total transaction of $44,406.60. Following the completion of the transaction, the chief executive officer now owns 125,819 shares in the company, valued at approximately $610,222.15. The disclosure for this sale can be found here. Insiders have sold a total of 71,951 shares of company stock worth $318,467 in the last 90 days. 2.88% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Taylor Frigon Capital Management LLC grew its position in QuickLogic by 11.9% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 720,488 shares of the semiconductor company’s stock worth $3,682,000 after purchasing an additional 76,666 shares during the last quarter. BlackRock Inc. grew its position in QuickLogic by 27.7% in the 3rd quarter. BlackRock Inc. now owns 133,380 shares of the semiconductor company’s stock worth $715,000 after purchasing an additional 28,964 shares during the last quarter. Advisor Group Holdings Inc. grew its position in QuickLogic by 10.6% in the 3rd quarter. Advisor Group Holdings Inc. now owns 36,528 shares of the semiconductor company’s stock worth $196,000 after purchasing an additional 3,508 shares during the last quarter. State Street Corp grew its position in QuickLogic by 10.4% in the 1st quarter. State Street Corp now owns 31,681 shares of the semiconductor company’s stock worth $174,000 after purchasing an additional 2,973 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in QuickLogic in the 2nd quarter worth $110,000. Institutional investors own 20.72% of the company’s stock.

QuickLogic Company Profile (Get Rating)

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable, hearable, tablets, and the Internet-of-Things devices. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low power field programmable gate arrays (FPGAs); and analytics toolkit, an end-to-end software suite that offers processes for developing pattern matching sensor algorithms using machine learning technology, as well as programming hardware and design software solutions.

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