QuickLogic (NASDAQ:QUIK) Coverage Initiated by Analysts at Lake Street Capital

Research analysts at Lake Street Capital assumed coverage on shares of QuickLogic (NASDAQ:QUIK) in a note issued to investors on Monday. The brokerage set a “buy” rating and a $10.00 price target on the semiconductor company’s stock. Lake Street Capital’s price target suggests a potential upside of 40.85% from the company’s current price.

QUIK has been the subject of a number of other research reports. Northland Securities downgraded shares of QuickLogic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 12th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $10.50.

QuickLogic Stock Up 9.4%

Shares of NASDAQ QUIK opened at $7.10 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 1 year low of $4.26 and a 1 year high of $9.27. The stock’s 50-day simple moving average is $6.99 and its 200-day simple moving average is $6.44. The firm has a market cap of $121.34 million, a price-to-earnings ratio of -12.46 and a beta of 0.80.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Wednesday, November 12th. The semiconductor company reported ($0.19) earnings per share 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 analyst estimates of $2.05 million. As a group, equities analysts anticipate that QuickLogic will post -0.29 earnings per share for the current fiscal year.

Insider Transactions at QuickLogic

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

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Cadent Capital Advisors LLC bought a new stake in shares of QuickLogic during the 4th quarter valued at about $1,036,000. Perkins Capital Management Inc. boosted its stake in QuickLogic by 34.5% in the fourth quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock valued at $1,657,000 after acquiring an additional 70,750 shares during the period. Two Sigma Investments LP bought a new position in shares of QuickLogic during the third quarter valued at approximately $406,000. Heritage Financial Services LLC bought a new position in shares of QuickLogic during the third quarter valued at approximately $303,000. Finally, Qube Research & Technologies Ltd raised its position in shares of QuickLogic by 40.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock worth $613,000 after purchasing an additional 28,751 shares during the period. 31.54% of the stock is currently owned by institutional investors.

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.