Needham & Company LLC Begins Coverage on QuickLogic (NASDAQ:QUIK)

Investment analysts at Needham & Company LLC initiated coverage on shares of QuickLogic (NASDAQ:QUIK) in a research note issued on Wednesday, Marketbeat Ratings reports. The brokerage set a “buy” rating and a $22.00 price target on the semiconductor company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 22.77% from the company’s current price.

Several other equities research analysts have also recently weighed in on QUIK. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Finally, Lake Street Capital restated a “buy” rating and issued a $22.00 price target (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, QuickLogic currently has an average rating of “Hold” and an average price target of $22.00.

QuickLogic Stock Performance

NASDAQ:QUIK opened at $17.92 on Wednesday. The business has a 50 day moving average price of $12.63 and a 200-day moving average price of $9.02. QuickLogic has a fifty-two week low of $4.80 and a fifty-two week high of $22.69. The firm has a market cap of $326.68 million, a PE ratio of -20.13 and a beta of 1.11. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%.The business had revenue of $5.05 million during the quarter, compared to analysts’ expectations of $5.51 million. Equities research analysts predict that QuickLogic will post -0.2 earnings per share for the current year.

Insider Activity

In related news, Director Michael J. Farese sold 4,800 shares of the stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $11.71, for a total transaction of $56,208.00. Following the completion of the sale, the director owned 30,540 shares in the company, valued at approximately $357,623.40. This trade represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary H. Tauss sold 2,195 shares of the business’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the completion of the transaction, the director directly owned 15,908 shares in the company, valued at $305,433.60. This trade represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,865 shares of company stock valued at $196,081 in the last quarter. 3.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On QuickLogic

Several hedge funds have recently bought and sold shares of QUIK. Vanguard Group Inc. grew its stake in QuickLogic by 4.6% in the third quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock worth $3,975,000 after purchasing an additional 28,587 shares in the last quarter. Royal Bank of Canada increased its position in shares of QuickLogic by 14,694.5% during the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after purchasing an additional 345,762 shares in the last quarter. Perkins Capital Management Inc. increased its position in shares of QuickLogic by 11.2% during the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock worth $2,877,000 after purchasing an additional 31,000 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in QuickLogic by 2.8% in the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 5,721 shares in the last quarter. Finally, Cadent Capital Advisors LLC acquired a new stake in QuickLogic in the fourth quarter worth about $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.