Zacks Investment Research upgraded shares of QuickLogic Corporation (NASDAQ:QUIK) from a sell rating to a hold rating in a report published on Wednesday.
According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “
Other equities analysts also recently issued research reports about the stock. ValuEngine downgraded shares of QuickLogic Corporation from a hold rating to a sell rating in a research note on Friday, September 1st. Roth Capital raised shares of QuickLogic Corporation from a neutral rating to a buy rating and increased their price objective for the company from $1.50 to $2.00 in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Hold and a consensus target price of $2.50.
Shares of QuickLogic Corporation (QUIK) traded down 0.60% during mid-day trading on Wednesday, hitting $1.66. 76,660 shares of the company were exchanged. The firm’s market capitalization is $132.98 million. The company’s 50-day moving average price is $1.60 and its 200-day moving average price is $1.48. QuickLogic Corporation has a 12-month low of $0.76 and a 12-month high of $2.48.
QuickLogic Corporation (NASDAQ:QUIK) last issued its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported ($0.05) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.20 million. QuickLogic Corporation had a negative net margin of 130.99% and a negative return on equity of 84.50%. The firm’s revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.07) EPS. Equities research analysts predict that QuickLogic Corporation will post ($0.17) earnings per share for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in QuickLogic Corporation by 3.1% in the 2nd quarter. Vanguard Group Inc. now owns 3,489,572 shares of the semiconductor company’s stock valued at $5,095,000 after acquiring an additional 106,434 shares during the period. Driehaus Capital Management LLC acquired a new position in QuickLogic Corporation in the 1st quarter valued at approximately $821,000. Adirondack Research & Management Inc. increased its position in QuickLogic Corporation by 2.8% in the 2nd quarter. Adirondack Research & Management Inc. now owns 279,300 shares of the semiconductor company’s stock valued at $408,000 after acquiring an additional 7,500 shares during the period. Creative Planning increased its position in QuickLogic Corporation by 18.6% in the 2nd quarter. Creative Planning now owns 191,177 shares of the semiconductor company’s stock valued at $279,000 after acquiring an additional 30,000 shares during the period. Finally, Northern Trust Corp increased its position in QuickLogic Corporation by 20.1% in the 2nd quarter. Northern Trust Corp now owns 159,105 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 26,599 shares during the period. Hedge funds and other institutional investors own 19.94% of the company’s stock.
QuickLogic Corporation Company Profile
QuickLogic Corporation develops and markets semiconductor and software algorithm solutions. The Company’s solutions primarily target smartphones, wearable devices, tablets, and the Internet-of-Things (IoT). The Company is a fabless semiconductor provider of flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays (FPGAs).
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