QuickLogic (NASDAQ:QUIK – Get Free Report) had its target price dropped by analysts at Needham & Company LLC from $22.00 to $20.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 40.55% from the company’s current price.
Several other equities analysts have also recently commented on the stock. Lake Street Capital reiterated a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, QuickLogic presently has a consensus rating of “Hold” and a consensus target price of $21.00.
Check Out Our Latest Stock Analysis on QuickLogic
QuickLogic Trading Up 3.4%
QuickLogic (NASDAQ:QUIK – Get Free Report) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). QuickLogic had a negative net margin of 102.41% and a negative return on equity of 48.97%. The firm had revenue of $5.48 million during the quarter, compared to analyst estimates of $6.00 million. Equities analysts anticipate that QuickLogic will post -0.23 EPS for the current year.
Insider Buying and Selling
In other QuickLogic news, 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 value of $42,144.00. Following the completion of the transaction, the director directly owned 15,908 shares of the company’s stock, valued at approximately $305,433.60. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Brian C. Faith sold 41,480 shares of QuickLogic stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total value of $848,266.00. Following the completion of the sale, the chief executive officer directly owned 228,412 shares in the company, valued at approximately $4,671,025.40. This represents a 15.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,175 shares of company stock valued at $1,000,410 in the last 90 days. 3.20% of the stock is owned by insiders.
Institutional Trading of QuickLogic
Institutional investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after purchasing an additional 4,902 shares during the period. Squarepoint Ops LLC bought a new position in shares of QuickLogic in the fourth quarter worth $84,000. Jane Street Group LLC acquired a new position in QuickLogic in the first quarter valued at about $87,000. Dimensional Fund Advisors LP bought a new stake in QuickLogic during the fourth quarter worth about $102,000. Finally, Cetera Investment Advisers bought a new position in QuickLogic in the 1st quarter valued at about $111,000. 31.54% of the stock is currently owned by institutional investors.
About QuickLogic
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.
Recommended Stories
- Five stocks we like better than QuickLogic
- Paramount’s 30-Film Promise Puts AMC Back in the Box Office Conversation
- DraftKings’ Predictions Push Could Be the Bet That Matters Most
- Atlassian Just Pulled Off the Software Comeback Wall Street Wanted
- AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be
Receive News & Ratings for QuickLogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuickLogic and related companies with MarketBeat.com's FREE daily email newsletter.
