QuickLogic Co. (NASDAQ:QUIK) has been assigned an average broker rating score of 2.00 (Buy) from the two brokers that cover the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company. QuickLogic’s rating score has declined by 100% in the last three months as a result of various analysts’ ratings changes.
Brokers have set a 12-month consensus price target of $1.25 for the company and are expecting that the company will post ($0.04) earnings per share for the current quarter, according to Zacks. Zacks has also assigned QuickLogic an industry rank of 90 out of 256 based on the ratings given to related companies.
Several analysts recently weighed in on QUIK shares. Roth Capital lowered QuickLogic from a “buy” rating to a “neutral” rating in a report on Wednesday, June 19th. Zacks Investment Research upgraded QuickLogic from a “hold” rating to a “buy” rating and set a $1.00 price target on the stock in a report on Wednesday, May 15th.
A number of hedge funds have recently modified their holdings of QUIK. Private Advisor Group LLC raised its stake in shares of QuickLogic by 34.0% in the fourth quarter. Private Advisor Group LLC now owns 43,723 shares of the semiconductor company’s stock worth $32,000 after purchasing an additional 11,100 shares during the last quarter. First Allied Advisory Services Inc. acquired a new stake in QuickLogic in the fourth quarter valued at approximately $26,000. Jane Street Group LLC acquired a new stake in QuickLogic in the fourth quarter valued at approximately $27,000. BlackRock Inc. grew its holdings in QuickLogic by 2.3% in the fourth quarter. BlackRock Inc. now owns 1,647,691 shares of the semiconductor company’s stock valued at $1,209,000 after purchasing an additional 37,465 shares during the period. Finally, NJ State Employees Deferred Compensation Plan grew its holdings in QuickLogic by 46.7% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 220,000 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 70,000 shares during the period. 14.31% of the stock is currently owned by institutional investors.
Shares of QUIK traded down $0.01 during mid-day trading on Friday, hitting $0.57. 129,037 shares of the stock were exchanged, compared to its average volume of 412,553. The stock has a market cap of $66.12 million, a P/E ratio of -3.80 and a beta of 0.44. QuickLogic has a 52-week low of $0.47 and a 52-week high of $1.22. The stock has a 50-day simple moving average of $0.70. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.02.
QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Wednesday, May 8th. The semiconductor company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.03) by ($0.01). QuickLogic had a negative net margin of 101.73% and a negative return on equity of 68.38%. The company had revenue of $3.19 million for the quarter, compared to analysts’ expectations of $3.50 million. During the same quarter in the previous year, the company posted ($0.04) EPS. On average, analysts predict that QuickLogic will post -0.08 EPS for the current fiscal year.
QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.
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