QuickLogic Corporation (NASDAQ:QUIK – Get Free Report)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.35 and traded as high as $13.63. QuickLogic shares last traded at $13.40, with a volume of 152,115 shares trading hands.
Analysts Set New Price Targets
QUIK has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 target price (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Needham & Company LLC started coverage on shares of QuickLogic in a research note on Wednesday, May 20th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Wall Street Zen upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.00.
QuickLogic Trading Down 5.7%
QuickLogic (NASDAQ:QUIK – Get Free Report) last issued its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $5.05 million during the quarter, compared to analysts’ expectations of $5.51 million. QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%. Sell-side analysts predict that QuickLogic Corporation will post -0.23 EPS for the current fiscal year.
Insider Transactions at QuickLogic
In related news, CEO Brian C. Faith sold 41,480 shares of QuickLogic stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total transaction of $848,266.00. Following the completion of the transaction, the chief executive officer directly owned 228,412 shares of the company’s stock, valued at $4,671,025.40. This trade represents a 15.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Gary H. Tauss sold 2,195 shares of the business’s stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the sale, the director directly owned 15,908 shares in the company, valued at $305,433.60. The trade was a 12.13% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,175 shares of company stock valued at $1,000,410 in the last three months. 3.20% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On QuickLogic
Large investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC boosted its position in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 4,902 shares in the last quarter. Squarepoint Ops LLC purchased a new position in QuickLogic during the fourth quarter valued at $84,000. Jane Street Group LLC purchased a new position in QuickLogic during the first quarter valued at $87,000. Dimensional Fund Advisors LP bought a new stake in QuickLogic in the fourth quarter worth $102,000. Finally, Stratos Wealth Advisors LLC boosted its holdings in QuickLogic by 55.5% in the fourth quarter. Stratos Wealth Advisors LLC now owns 18,235 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 6,510 shares in the last quarter. 31.54% of the stock is currently owned by hedge funds and other institutional investors.
QuickLogic Company Profile
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.
Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.
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