QuickLogic (NASDAQ:QUIK) Now Covered by Lake Street Capital

Lake Street Capital initiated coverage on shares of QuickLogic (NASDAQ:QUIK) in a report released on Monday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $10.00 target price on the semiconductor company’s stock.

A number of other brokerages have also recently issued reports on QUIK. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Northland Securities downgraded shares of QuickLogic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, QuickLogic has a consensus rating of “Hold” and an average price target of $10.50.

QuickLogic Price Performance

QUIK opened at $7.20 on Monday. The company has a fifty day moving average price of $7.02 and a two-hundred day moving average price of $6.45. The firm has a market capitalization of $123.05 million, a PE ratio of -12.63 and a beta of 0.80. QuickLogic has a 52 week low of $4.26 and a 52 week high of $9.27. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.18.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Wednesday, November 12th. The semiconductor company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.21) by $0.02. The business had revenue of $2.03 million for the quarter, compared to analyst estimates of $2.05 million. QuickLogic had a negative return on equity of 33.71% and a negative net margin of 58.26%. As a group, analysts anticipate that QuickLogic will post -0.29 earnings per share for the current year.

Insider Buying and Selling at QuickLogic

In related news, CFO Elias Nader sold 10,813 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $6.36, for a total value of $68,770.68. Following the completion of the transaction, the chief financial officer directly owned 71,193 shares in the company, valued at approximately $452,787.48. The trade was a 13.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last quarter, insiders sold 17,500 shares of company stock worth $110,579. Insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. boosted its holdings in shares of QuickLogic by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock valued at $282,000 after buying an additional 21,275 shares during the period. Jane Street Group LLC bought a new stake in QuickLogic in the 1st quarter valued at $87,000. Vanguard Personalized Indexing Management LLC acquired a new position in QuickLogic in the 2nd quarter worth $66,000. Y Intercept Hong Kong Ltd bought a new position in QuickLogic during the 2nd quarter worth about $149,000. Finally, Prospera Financial Services Inc bought a new position in QuickLogic during the 2nd quarter worth about $96,000. Institutional investors own 31.54% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.