QuickLogic's (QUIK) "Buy" Rating Reiterated at Needham & Company LLC

QuickLogic (NASDAQ:QUIK - Get Free Report)'s stock had its "buy" rating reissued by analysts at Needham & Company LLC in a research note issued on Monday, September 21st, Benzinga reports. They presently have a $20.00 price target on the semiconductor company's stock. Needham & Company LLC's price objective indicates a potential upside of 83.32% from the stock's previous close.

Separately, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuickLogic in a report on Wednesday, June 24th. Two equities research 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, the company presently has an average rating of "Hold" and a consensus price target of $21.00.

QuickLogic Stock Performance

Shares of QUIK traded down $0.05 during trading hours on Monday, reaching $10.91. 154,278 shares of the company traded hands, compared to its average volume of 231,365. The stock has a market capitalization of $199.87 million, a P/E ratio of -14.17 and a beta of 1.20. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03. QuickLogic has a 12-month low of $5.28 and a 12-month high of $24.33. The business has a fifty day moving average price of $11.87 and a 200-day moving average price of $14.38.

QuickLogic (NASDAQ:QUIK - Get Free Report) last announced its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). The company had revenue of $5.48 million for the quarter, compared to analysts' expectations of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. Equities analysts anticipate that QuickLogic will post -0.26 EPS for the current fiscal year.

Insiders Place Their Bets

In other QuickLogic news, CFO Elias Nader sold 12,152 shares of the company's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $10.80, for a total value of $131,241.60. Following the completion of the transaction, the chief financial officer owned 82,255 shares in the company, valued at approximately $888,354. This represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian Faith sold 25,292 shares of the company's stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $10.80, for a total transaction of $273,153.60. Following the completion of the transaction, the chief executive officer owned 255,791 shares of the company's stock, valued at approximately $2,762,542.80. This trade represents a 9.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 90,044 shares of company stock worth $950,748. Company insiders own 3.20% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company's stock worth $3,266,000 after acquiring an additional 345,762 shares during the period. Perkins Capital Management Inc. raised its position in shares of QuickLogic by 11.2% during the 1st 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 during the last quarter. Themes Management Co LLC acquired a new position in shares of QuickLogic during the 1st quarter worth about $1,309,000. Sei Investments Co. acquired a new position in shares of QuickLogic during the 1st quarter worth about $987,000. Finally, Bank of New York Mellon Corp acquired a new position in shares of QuickLogic during the 2nd quarter worth about $754,000. Institutional investors and hedge funds own 31.54% of the company's stock.

QuickLogic Company Profile

QuickLogic Corporation NASDAQ: QUIK is a fabless semiconductor company that develops customizable, low-power semiconductor solutions and intellectual property for consumer, industrial, communications, and other electronic devices. Its technologies are designed to help manufacturers add processing, connectivity, display, and sensor capabilities while reducing development time and power consumption.

The company's offerings include embedded FPGA (eFPGA) intellectual property, which allows programmable logic to be integrated directly into a system-on-chip, as well as customer-specific standard products and related semiconductor solutions.