Analysts Set QuickLogic Corporation (NASDAQ:QUIK) Price Target at $10.87

Shares of QuickLogic Corporation (NASDAQ:QUIK) have received an average recommendation of “Moderate Buy” from the five brokerages that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $10.8667.

A number of analysts have commented on QUIK shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QuickLogic in a research note on Wednesday. Wall Street Zen lowered shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th.

QuickLogic Stock Performance

NASDAQ:QUIK opened at $6.43 on Friday. QuickLogic has a twelve month low of $4.26 and a twelve month high of $13.36. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average of $5.76 and a 200-day moving average of $5.71. The firm has a market cap of $105.64 million, a price-to-earnings ratio of -13.68 and a beta of 0.76.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 9,155 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $53,099.00. Following the completion of the sale, the vice president directly owned 125,916 shares of the company’s stock, valued at approximately $730,312.80. This represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Elias Nader sold 7,325 shares of the company’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $42,485.00. Following the sale, the chief financial officer directly owned 82,006 shares of the company’s stock, valued at $475,634.80. This represents a 8.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,836 shares of company stock valued at $189,133. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its holdings in QuickLogic by 5,920.0% during the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company’s stock valued at $32,000 after purchasing an additional 6,216 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in QuickLogic by 246.5% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 4,902 shares during the period. Vanguard Personalized Indexing Management LLC bought a new position in QuickLogic in the second quarter worth $66,000. Jane Street Group LLC bought a new position in QuickLogic in the first quarter worth $87,000. Finally, Nuveen LLC bought a new position in QuickLogic in the first quarter worth $95,000. Institutional investors and hedge funds own 31.54% of the company’s stock.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.