Zacks: QuickLogic Co. (QUIK) Receives Consensus Rating of “Strong Buy” from Analysts

QuickLogic Co. (NASDAQ:QUIK) has received an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.

Brokers have set a one year consensus price target of $2.50 for the company and are anticipating that the company will post ($0.04) EPS for the current quarter, according to Zacks. Zacks has also given QuickLogic an industry rank of 68 out of 255 based on the ratings given to its competitors.

Several research firms have recently weighed in on QUIK. ValuEngine downgraded QuickLogic from a “hold” rating to a “sell” rating in a report on Monday, July 2nd. Zacks Investment Research downgraded QuickLogic from a “buy” rating to a “hold” rating in a report on Saturday, June 30th.

Hedge funds have recently bought and sold shares of the company. Wells Fargo & Company MN boosted its holdings in shares of QuickLogic by 185.7% in the fourth quarter. Wells Fargo & Company MN now owns 78,171 shares of the semiconductor company’s stock valued at $136,000 after acquiring an additional 50,813 shares during the period. First Mercantile Trust Co. boosted its holdings in shares of QuickLogic by 92.6% in the first quarter. First Mercantile Trust Co. now owns 104,579 shares of the semiconductor company’s stock valued at $159,000 after acquiring an additional 50,276 shares during the period. Paulson Wealth Management Inc. boosted its holdings in shares of QuickLogic by 766.3% in the first quarter. Paulson Wealth Management Inc. now owns 225,246 shares of the semiconductor company’s stock valued at $342,000 after acquiring an additional 199,246 shares during the period. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of QuickLogic in the second quarter valued at approximately $383,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in shares of QuickLogic by 27.4% during the second quarter. Taylor Frigon Capital Management LLC now owns 4,155,292 shares of the semiconductor company’s stock worth $4,779,000 after purchasing an additional 893,731 shares during the period. 19.82% of the stock is owned by institutional investors and hedge funds.

QUIK stock opened at $1.14 on Monday. The company has a market capitalization of $104.92 million, a PE ratio of -6.33 and a beta of 0.09. QuickLogic has a twelve month low of $1.05 and a twelve month high of $2.22. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.96 and a quick ratio of 1.59.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Wednesday, August 8th. The semiconductor company reported ($0.04) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.04). QuickLogic had a negative return on equity of 89.49% and a negative net margin of 123.78%. During the same period in the prior year, the company earned ($0.05) earnings per share. sell-side analysts predict that QuickLogic will post -0.12 EPS for the current year.

QuickLogic Company Profile

QuickLogic Corporation, a semiconductor company, designs, markets, and supports silicon solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. The company also provides Field Programmable Gate Arrays (FPGAs), software drivers, and associated design software and programming hardware, as well as eFPGA intellectual property (IP), such as ArcticPro and ArcticPro 2.

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