QuickLogic (NASDAQ:QUIK) PT Raised to $12.00 at Oppenheimer

QuickLogic (NASDAQ:QUIK) had its price objective raised by equities research analysts at Oppenheimer from $10.00 to $12.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the semiconductor company’s stock. Oppenheimer’s target price would indicate a potential upside of 13.21% from the stock’s previous close.

Separately, StockNews.com assumed coverage on shares of QuickLogic in a research report on Thursday, October 5th. They issued a “sell” rating for the company.

QuickLogic Stock Up 4.0 %

Shares of NASDAQ:QUIK opened at $10.60 on Wednesday. The company has a market cap of $146.91 million, a price-to-earnings ratio of -39.26 and a beta of 1.60. The firm’s 50-day simple moving average is $9.08 and its 200-day simple moving average is $8.08. QuickLogic has a fifty-two week low of $4.92 and a fifty-two week high of $10.67.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Monday, August 14th. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.10). The business had revenue of $2.92 million for the quarter, compared to analyst estimates of $5.00 million. QuickLogic had a negative return on equity of 48.56% and a negative net margin of 41.63%. On average, research analysts forecast that QuickLogic will post -0.16 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QUIK. Herald Investment Management Ltd boosted its stake in shares of QuickLogic by 22.6% in the first quarter. Herald Investment Management Ltd now owns 407,279 shares of the semiconductor company’s stock valued at $2,411,000 after purchasing an additional 75,000 shares during the period. Raymond James & Associates bought a new position in QuickLogic during the 3rd quarter valued at $336,000. Osaic Holdings Inc. raised its holdings in shares of QuickLogic by 108.2% during the second quarter. Osaic Holdings Inc. now owns 58,092 shares of the semiconductor company’s stock worth $534,000 after purchasing an additional 30,194 shares during the period. EAM Investors LLC raised its holdings in shares of QuickLogic by 17.0% during the third quarter. EAM Investors LLC now owns 167,485 shares of the semiconductor company’s stock worth $1,440,000 after purchasing an additional 24,316 shares during the period. Finally, Envestnet Asset Management Inc. acquired a new stake in shares of QuickLogic during the second quarter worth $177,000. 22.46% of the stock is currently owned by hedge funds and other institutional investors.

QuickLogic Company Profile

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.