Zacks Investment Research Upgrades QuickLogic Corp. (QUIK) to “Hold”
QuickLogic Corp. (NASDAQ:QUIK) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Friday.
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. “
Other equities research analysts have also recently issued research reports about the company. Benchmark Co. reissued a “buy” rating and issued a $3.00 price target on shares of QuickLogic Corp. in a research note on Friday, November 4th. Roth Capital reissued a “buy” rating and issued a $1.50 price target on shares of QuickLogic Corp. in a research note on Thursday, September 1st.
QuickLogic Corp. (NASDAQ:QUIK) opened at 0.93 on Friday. QuickLogic Corp. has a 12-month low of $0.75 and a 12-month high of $1.66. The firm’s market cap is $63.04 million. The firm has a 50-day moving average of $0.82 and a 200-day moving average of $0.90.
QuickLogic Corp. (NASDAQ:QUIK) last announced its quarterly earnings results on Wednesday, November 2nd. The company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). The business earned $2.80 million during the quarter, compared to analysts’ expectations of $2.80 million. QuickLogic Corp. had a negative return on equity of 98.49% and a negative net margin of 166.33%. The firm’s quarterly revenue was down 33.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.08) EPS. On average, analysts expect that QuickLogic Corp. will post ($0.27) EPS for the current year.
A hedge fund recently raised its stake in QuickLogic Corp. stock. Vanguard Group Inc. boosted its position in shares of QuickLogic Corp. (NASDAQ:QUIK) by 0.6% during the second quarter, according to its most recent filing with the SEC. The fund owned 1,757,306 shares of the company’s stock after buying an additional 10,710 shares during the period. Vanguard Group Inc. owned about 2.62% of QuickLogic Corp. worth $1,704,000 as of its most recent SEC filing. 20.59% of the stock is owned by institutional investors.
QuickLogic Corp. Company Profile
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).
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