Lake Street Capital Begins Coverage on QuickLogic (NASDAQ:QUIK)

Investment analysts at Lake Street Capital assumed coverage on shares of QuickLogic (NASDAQ:QUIK) in a research note issued on Monday, Marketbeat reports. The brokerage set a “buy” rating and a $10.00 price target on the semiconductor company’s stock. Lake Street Capital’s price objective points to a potential upside of 43.47% from the stock’s current price.

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

QuickLogic Price Performance

Shares of NASDAQ QUIK opened at $6.97 on Monday. The stock has a market cap of $119.12 million, a P/E ratio of -12.23 and a beta of 0.80. The firm’s 50-day simple moving average is $7.04 and its 200 day simple moving average is $6.45. QuickLogic has a fifty-two week low of $4.26 and a fifty-two week high of $9.27. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.02.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Wednesday, November 12th. The semiconductor company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. The firm had revenue of $2.03 million for the quarter, compared to analysts’ expectations of $2.05 million. QuickLogic had a negative net margin of 58.26% and a negative return on equity of 33.71%. Equities analysts expect that QuickLogic will post -0.29 EPS for the current year.

Insider Activity at QuickLogic

In related news, CFO Elias Nader sold 5,687 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $6.30, for a total value of $35,828.10. Following the completion of the transaction, the chief financial officer owned 65,506 shares in the company, valued at $412,687.80. This trade represents a 7.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders sold 17,500 shares of company stock worth $110,579 over the last three months. Corporate insiders own 1.50% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its holdings in shares of QuickLogic by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock valued at $282,000 after acquiring an additional 21,275 shares during the period. Jane Street Group LLC purchased a new position in QuickLogic during the 1st quarter worth approximately $87,000. Vanguard Personalized Indexing Management LLC purchased a new position in QuickLogic during the 2nd quarter worth approximately $66,000. Y Intercept Hong Kong Ltd acquired a new stake in QuickLogic during the 2nd quarter valued at $149,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of QuickLogic in the second quarter valued at $96,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

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.