QuickLogic Corporation (NASDAQ:QUIK) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday. The firm presently has a $2.00 price target on the semiconductor company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 22.70% from the company’s previous close.
According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “
A number of other brokerages have also recently issued reports on QUIK. ValuEngine cut QuickLogic Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. Roth Capital raised QuickLogic Corporation from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $1.50 to $2.00 in a report on Monday, September 11th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. QuickLogic Corporation presently has an average rating of “Buy” and an average price target of $2.17.
QuickLogic Corporation (QUIK) opened at $1.63 on Tuesday. QuickLogic Corporation has a twelve month low of $0.78 and a twelve month high of $2.48. The company has a current ratio of 2.61, a quick ratio of 2.27 and a debt-to-equity ratio of 0.01.
QuickLogic Corporation (NASDAQ:QUIK) last issued its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported ($0.04) earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of ($0.04). The company had revenue of $2.97 million during the quarter, compared to analysts’ expectations of $3.02 million. QuickLogic Corporation had a negative return on equity of 76.28% and a negative net margin of 120.37%. The business’s revenue was up 5.7% on a year-over-year basis. During the same period last year, the business earned ($0.06) earnings per share. sell-side 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 added to or reduced their stakes in the stock. Adirondack Research & Management Inc. raised its holdings in shares of QuickLogic Corporation by 2.8% in the second quarter. Adirondack Research & Management Inc. now owns 279,300 shares of the semiconductor company’s stock valued at $408,000 after buying an additional 7,500 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QuickLogic Corporation by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 79,489 shares of the semiconductor company’s stock valued at $116,000 after buying an additional 7,624 shares during the last quarter. Northern Trust Corp raised its holdings in shares of QuickLogic Corporation by 20.1% in the second quarter. Northern Trust Corp now owns 159,105 shares of the semiconductor company’s stock valued at $232,000 after buying an additional 26,599 shares during the last quarter. Creative Planning raised its holdings in shares of QuickLogic Corporation by 18.6% in the second quarter. Creative Planning now owns 191,177 shares of the semiconductor company’s stock valued at $279,000 after buying an additional 30,000 shares during the last quarter. Finally, Sei Investments Co. bought a new position in shares of QuickLogic Corporation in the second quarter valued at about $123,000. 19.50% of the stock is owned by institutional investors and hedge funds.
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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