Zacks: Brokerages Set $1.25 Target Price for QuickLogic Co. (NASDAQ:QUIK)

QuickLogic Co. (NASDAQ:QUIK) has been assigned an average broker rating score of 2.00 (Buy) from the two analysts that cover the company, Zacks Investment Research reports. One research analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. QuickLogic’s rating score has declined by 100% in the last three months as a result of various analysts’ ratings changes.

Brokers have set a twelve-month consensus price objective of $1.25 for the company and are predicting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also assigned QuickLogic an industry rank of 145 out of 256 based on the ratings given to related companies.

QUIK has been the subject of a number of recent research reports. Zacks Investment Research raised shares of QuickLogic from a “hold” rating to a “buy” rating and set a $1.00 target price for the company in a report on Wednesday, May 15th. Roth Capital lowered shares of QuickLogic from a “buy” rating to a “neutral” rating in a report on Wednesday, June 19th.

QUIK traded up $0.01 during trading on Friday, reaching $0.58. 136,019 shares of the company traded hands, compared to its average volume of 412,025. The business’s fifty day simple moving average is $0.69. QuickLogic has a 12-month low of $0.47 and a 12-month high of $1.22. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $66.12 million, a P/E ratio of -3.90 and a beta of 0.44.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Wednesday, May 8th. The semiconductor company reported ($0.04) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.01). QuickLogic had a negative net margin of 101.73% and a negative return on equity of 68.38%. The business had revenue of $3.19 million during the quarter, compared to analysts’ expectations of $3.50 million. During the same period last year, the business posted ($0.04) earnings per share. On average, equities research analysts predict that QuickLogic will post -0.08 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the stock. Private Advisor Group LLC lifted its position in QuickLogic by 34.0% in the fourth quarter. Private Advisor Group LLC now owns 43,723 shares of the semiconductor company’s stock worth $32,000 after buying an additional 11,100 shares during the last quarter. First Allied Advisory Services Inc. bought a new stake in QuickLogic in the fourth quarter worth $26,000. Jane Street Group LLC bought a new stake in QuickLogic in the fourth quarter worth $27,000. BlackRock Inc. lifted its position in QuickLogic by 2.3% in the fourth quarter. BlackRock Inc. now owns 1,647,691 shares of the semiconductor company’s stock worth $1,209,000 after buying an additional 37,465 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan lifted its position in QuickLogic by 46.7% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 220,000 shares of the semiconductor company’s stock worth $134,000 after buying an additional 70,000 shares during the last quarter. 14.31% of the stock is owned by hedge funds and other institutional investors.

About QuickLogic

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

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