QuickLogic Corporation (QUIK) Lifted to “Hold” at Zacks Investment Research
QuickLogic Corporation (NASDAQ:QUIK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Wednesday.
According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “
Several other equities research analysts also recently weighed in on the company. Roth Capital raised QuickLogic Corporation from a “neutral” rating to a “buy” rating and raised their price target for the stock from $1.50 to $2.00 in a report on Monday, September 11th. ValuEngine downgraded QuickLogic Corporation from a “hold” rating to a “sell” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $2.50.
QuickLogic Corporation (NASDAQ:QUIK) last issued its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.05) earnings per share for the quarter, hitting the consensus estimate of ($0.05). The business had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.20 million. QuickLogic Corporation had a negative return on equity of 84.50% and a negative net margin of 130.99%. The company’s quarterly revenue was up 11.4% on a year-over-year basis. During the same quarter last year, the company earned ($0.07) earnings per share. On average, equities analysts expect that QuickLogic Corporation will post ($0.17) EPS for the current year.
COPYRIGHT VIOLATION WARNING: “QuickLogic Corporation (QUIK) Lifted to “Hold” at Zacks Investment Research” was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this report on another domain, it was stolen and republished in violation of US & international copyright and trademark laws. The correct version of this report can be accessed at https://www.americanbankingnews.com/2017/10/11/quicklogic-corporation-quik-lifted-to-hold-at-zacks-investment-research.html.
Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp raised its stake in shares of QuickLogic Corporation by 10.6% in the second quarter. Bank of New York Mellon Corp now owns 79,489 shares of the semiconductor company’s stock worth $116,000 after purchasing an additional 7,624 shares during the last quarter. Sei Investments Co. purchased a new position in shares of QuickLogic Corporation in the second quarter worth about $123,000. AWM Investment Company Inc. purchased a new position in shares of QuickLogic Corporation in the first quarter worth about $178,000. Northern Trust Corp raised its stake in shares of QuickLogic Corporation by 20.1% in the second quarter. Northern Trust Corp now owns 159,105 shares of the semiconductor company’s stock worth $232,000 after purchasing an additional 26,599 shares during the last quarter. Finally, Creative Planning raised its stake in shares of QuickLogic Corporation by 18.6% in the second quarter. Creative Planning now owns 191,177 shares of the semiconductor company’s stock worth $279,000 after purchasing an additional 30,000 shares during the last quarter. Hedge funds and other institutional investors own 19.94% of the company’s stock.
About QuickLogic Corporation
QuickLogic Corporation develops and markets semiconductor and software algorithm solutions. The Company’s solutions primarily target smartphones, wearable devices, tablets, and the Internet-of-Things (IoT). The Company is a fabless semiconductor provider of flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays (FPGAs).
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for QuickLogic Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuickLogic Corporation and related companies with MarketBeat.com's FREE daily email newsletter.