Equities research analysts at Oppenheimer initiated coverage on shares of QuickLogic (NASDAQ:QUIK) in a research note issued to investors on Wednesday, The Fly reports. The brokerage set an “outperform” rating and a $1.00 price target on the semiconductor company’s stock. Oppenheimer’s price target points to a potential upside of 163.16% from the stock’s previous close.
Several other analysts have also recently commented on the company. Roth Capital cut QuickLogic from a “buy” rating to a “neutral” rating in a report on Wednesday, June 19th. Zacks Investment Research cut QuickLogic from a “buy” rating to a “sell” rating in a report on Tuesday.
QuickLogic stock traded down $0.01 during mid-day trading on Wednesday, reaching $0.38. 343,700 shares of the company were exchanged, compared to its average volume of 346,747. QuickLogic has a twelve month low of $0.30 and a twelve month high of $1.19. The stock has a 50-day moving average price of $0.52. The company has a current ratio of 1.64, a quick ratio of 1.45 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $43.28 million, a price-to-earnings ratio of -2.53 and a beta of 0.33.
QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). QuickLogic had a negative return on equity of 79.87% and a negative net margin of 120.05%. The company had revenue of $2.09 million for the quarter, compared to analyst estimates of $2.20 million. During the same period in the previous year, the business posted ($0.04) earnings per share. Sell-side analysts predict that QuickLogic will post -0.12 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently bought and sold shares of QUIK. Jane Street Group LLC purchased a new position in QuickLogic in the 4th quarter valued at approximately $27,000. Tower Research Capital LLC TRC increased its stake in QuickLogic by 731.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 58,438 shares in the last quarter. Wells Fargo & Company MN increased its stake in QuickLogic by 38.4% in the 2nd quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 41,219 shares in the last quarter. NJ State Employees Deferred Compensation Plan increased its stake in QuickLogic by 46.7% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 220,000 shares of the semiconductor company’s stock valued at $134,000 after purchasing an additional 70,000 shares in the last quarter. Finally, Intel Corp purchased a new position in QuickLogic in the 1st quarter valued at approximately $218,000. 11.43% of the stock is owned by institutional investors and hedge funds.
QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.
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