QuickLogic (NASDAQ:QUIK) Earns Buy Rating from Analysts at Lake Street Capital

Lake Street Capital assumed coverage on shares of QuickLogic (NASDAQ:QUIK) in a research note issued to investors on Monday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $10.00 target price on the semiconductor company’s stock.

A number of other brokerages also recently commented on QUIK. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research note on Monday, December 29th. Northland Securities cut QuickLogic from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 12th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.50.

QuickLogic Stock Performance

Shares of QuickLogic stock opened at $7.02 on Monday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.18. QuickLogic has a one year low of $4.26 and a one year high of $9.27. The company has a market cap of $119.97 million, a PE ratio of -12.32 and a beta of 0.80. The business has a 50-day simple moving average of $7.05 and a 200-day simple moving average of $6.46.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Wednesday, November 12th. The semiconductor company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. QuickLogic had a negative return on equity of 33.71% and a negative net margin of 58.26%.The firm had revenue of $2.03 million during the quarter, compared to analysts’ expectations of $2.05 million. On average, equities research analysts forecast that QuickLogic will post -0.29 EPS for the current fiscal year.

Insider Activity

In other news, CFO Elias Nader sold 10,813 shares of the company’s stock in a transaction on Friday, December 5th. The stock was sold at an average price of $6.36, for a total transaction of $68,770.68. Following the transaction, the chief financial officer owned 71,193 shares of the company’s stock, valued at $452,787.48. This represents a 13.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 17,500 shares of company stock worth $110,579 in the last quarter. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

Several institutional investors have recently modified their holdings of the business. Vanguard Personalized Indexing Management LLC bought a new position in shares of QuickLogic in the 2nd quarter valued at about $66,000. Prospera Financial Services Inc bought a new stake in shares of QuickLogic in the 2nd quarter valued at about $96,000. Y Intercept Hong Kong Ltd bought a new stake in shares of QuickLogic in the 2nd quarter valued at $149,000. Stratos Wealth Advisors LLC acquired a new stake in shares of QuickLogic in the 3rd quarter valued at about $71,000. Finally, Cadent Capital Advisors LLC bought a new stake in QuickLogic during the fourth quarter valued at $1,036,000. Institutional investors own 31.54% of the company’s stock.

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.