Roth Capital Upgrades QuickLogic Corporation (QUIK) to “Buy”

QuickLogic Corporation (NASDAQ:QUIK) was upgraded by equities research analysts at Roth Capital from a “neutral” rating to a “buy” rating in a research note issued on Monday. The brokerage presently has a $2.00 target price on the semiconductor company’s stock. Roth Capital’s target price would suggest a potential upside of 21.21% from the company’s previous close.

A number of other analysts also recently issued reports on the stock. ValuEngine downgraded shares of QuickLogic Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Zacks Investment Research downgraded shares of QuickLogic Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a sell rating and three have issued a buy rating to the company’s stock. QuickLogic Corporation currently has an average rating of “Hold” and a consensus price target of $2.31.

QuickLogic Corporation (QUIK) opened at 1.65 on Monday. QuickLogic Corporation has a 12 month low of $0.75 and a 12 month high of $2.48. The company has a 50-day moving average of $1.39 and a 200 day moving average of $1.51. The stock’s market capitalization is $132.18 million.

QuickLogic Corporation (NASDAQ:QUIK) last announced its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.05). The company had revenue of $3.03 million for the quarter, compared to the consensus estimate of $3.20 million. QuickLogic Corporation had a negative net margin of 130.99% and a negative return on equity of 84.50%. QuickLogic Corporation’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.07) EPS. On average, equities research analysts anticipate that QuickLogic Corporation will post ($0.17) earnings per share for the current fiscal year.

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Several institutional investors have recently bought and sold shares of QUIK. Frontier Capital Management Co. LLC increased its holdings in shares of QuickLogic Corporation by 63.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 6,825,273 shares of the semiconductor company’s stock worth $12,149,000 after buying an additional 2,657,793 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of QuickLogic Corporation by 106.3% in the 1st quarter. Vanguard Group Inc. now owns 3,383,138 shares of the semiconductor company’s stock worth $6,022,000 after buying an additional 1,742,844 shares during the last quarter. Driehaus Capital Management LLC bought a new stake in shares of QuickLogic Corporation in the 1st quarter worth about $821,000. EAM Investors LLC bought a new stake in shares of QuickLogic Corporation in the 1st quarter worth about $609,000. Finally, Firsthand Capital Management Inc. increased its holdings in shares of QuickLogic Corporation by 92.6% in the 1st quarter. Firsthand Capital Management Inc. now owns 520,000 shares of the semiconductor company’s stock worth $926,000 after buying an additional 250,000 shares during the last quarter. Hedge funds and other institutional investors own 19.94% of the company’s stock.

QuickLogic Corporation Company Profile

QuickLogic Corporation develops and markets semiconductor and software algorithm solutions. The Company’s solutions primarily target smartphones, wearable devices, tablets, and the Internet-of-Things (IoT). The Company is a fabless semiconductor provider of flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays (FPGAs).

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