QuickLogic (NASDAQ:QUIK) Given New $8.00 Price Target at Oppenheimer

QuickLogic (NASDAQ:QUIK – Get Rating) had its price target cut by equities research analysts at Oppenheimer to $8.00 in a research report issued on Wednesday, Stock Target Advisor reports. The brokerage currently has a “na” rating on the semiconductor company’s stock. Oppenheimer’s price objective would indicate a potential upside of 34.00% from the company’s previous close.

QUIK has been the subject of a number of other research reports. Zacks Investment Research cut QuickLogic from a “buy” rating to a “hold” rating in a report on Wednesday, April 20th. StockNews.com initiated coverage on QuickLogic in a report on Friday, May 13th. They set a “hold” rating for the company.

Shares of QUIK traded down $0.08 during trading hours on Wednesday, reaching $5.97. The stock had a trading volume of 2,002 shares, compared to its average volume of 39,451. QuickLogic has a 52 week low of $4.25 and a 52 week high of $8.00. The firm has a 50-day moving average of $5.22 and a 200 day moving average of $5.34. The company has a market cap of $73.79 million, a P/E ratio of -10.47 and a beta of 2.16.

QuickLogic (NASDAQ:QUIK – Get Rating) last released its quarterly earnings data on Tuesday, May 17th. The semiconductor company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. QuickLogic had a negative net margin of 52.16% and a negative return on equity of 68.80%. During the same period in the previous year, the company posted ($0.15) earnings per share. Equities analysts forecast that QuickLogic will post -0.24 earnings per share for the current year.

In other news, VP Timothy Saxe sold 21,409 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $4.36, for a total transaction of $93,343.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Brian C. Faith sold 9,156 shares of the stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $4.85, for a total transaction of $44,406.60. Following the transaction, the chief executive officer now owns 125,819 shares of the company’s stock, valued at $610,222.15. The disclosure for this sale can be found here. In the last quarter, insiders have sold 71,735 shares of company stock valued at $317,251. Corporate insiders own 2.88% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. Taylor Frigon Capital Management LLC boosted its stake in shares of QuickLogic by 0.6% during the 1st quarter. Taylor Frigon Capital Management LLC now owns 724,481 shares of the semiconductor company’s stock worth $3,985,000 after buying an additional 3,993 shares during the last quarter. Perkins Capital Management Inc. lifted its stake in QuickLogic by 2.1% in the 1st quarter. Perkins Capital Management Inc. now owns 246,782 shares of the semiconductor company’s stock valued at $1,357,000 after purchasing an additional 4,997 shares during the last quarter. BlackRock Inc. lifted its stake in QuickLogic by 2.6% in the 4th quarter. BlackRock Inc. now owns 136,832 shares of the semiconductor company’s stock valued at $699,000 after purchasing an additional 3,452 shares during the last quarter. Advisor Group Holdings Inc. lifted its stake in QuickLogic by 5.3% in the 1st quarter. Advisor Group Holdings Inc. now owns 39,506 shares of the semiconductor company’s stock valued at $216,000 after purchasing an additional 1,993 shares during the last quarter. Finally, State Street Corp lifted its stake in QuickLogic by 10.4% in the 1st quarter. State Street Corp now owns 31,681 shares of the semiconductor company’s stock valued at $174,000 after purchasing an additional 2,973 shares during the last quarter. Institutional investors own 20.72% of the company’s stock.

About QuickLogic (Get Rating)

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable, hearable, tablets, and the Internet-of-Things devices. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low power field programmable gate arrays (FPGAs); and analytics toolkit, an end-to-end software suite that offers processes for developing pattern matching sensor algorithms using machine learning technology, as well as programming hardware and design software solutions.

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