QuickLogic Corporation (NASDAQ:QUIK) Receives Consensus Recommendation of "Moderate Buy" from Brokerages

Key Points

• QuickLogic Corporation has a consensus recommendation of "Moderate Buy" from brokerages, with an average 12-month price target of $10.87.
• Recent insider trading included CEO Brian C. Faith selling 14,956 shares for $86,744.80, which reduced his ownership by 6.15%.
• Institutional investors now own 31.54% of QuickLogic's stock, with notable increases from firms like GAMMA Investing LLC and Tower Research Capital LLC.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) has earned a consensus rating of "Moderate Buy" from the five brokerages that are presently covering the stock, MarketBeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $10.8667.

A number of equities research analysts have weighed in on QUIK shares. Wall Street Zen lowered shares of QuickLogic from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of QuickLogic in a research note on Saturday, September 27th.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, CEO Brian C. Faith sold 14,956 shares of the business's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $86,744.80. Following the completion of the sale, the chief executive officer owned 228,412 shares of the company's stock, valued at approximately $1,324,789.60. The trade was a 6.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Timothy Saxe sold 9,155 shares of the company's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.80, for a total value of $53,099.00. Following the completion of the sale, the vice president owned 125,916 shares of the company's stock, valued at approximately $730,312.80. The trade was a 6.78% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,836 shares of company stock worth $189,133. Insiders own 1.50% of the company's stock.

Institutional Investors Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QUIK. GAMMA Investing LLC boosted its position in shares of QuickLogic by 5,920.0% in the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 6,216 shares during the period. Tower Research Capital LLC TRC raised its position in shares of QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 4,902 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of QuickLogic during the 2nd quarter valued at $66,000. Jane Street Group LLC purchased a new stake in QuickLogic in the 1st quarter worth $87,000. Finally, Nuveen LLC purchased a new stake in QuickLogic in the 1st quarter worth $95,000. Institutional investors own 31.54% of the company's stock.

QuickLogic Stock Performance

NASDAQ:QUIK traded up $0.07 during mid-day trading on Friday, reaching $6.10. The company's stock had a trading volume of 266,106 shares, compared to its average volume of 153,004. 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 stock has a market cap of $100.22 million, a P/E ratio of -12.98 and a beta of 0.76. The firm's fifty day moving average price is $5.75 and its two-hundred day moving average price is $5.69. QuickLogic has a 12-month low of $4.26 and a 12-month high of $13.36.

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.

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