QuickLogic Corporation (QUIK) Raised to Buy at Roth Capital
Roth Capital upgraded shares of QuickLogic Corporation (NASDAQ:QUIK) from a neutral rating to a buy rating in a research report sent to investors on Monday morning, MarketBeat reports. Roth Capital currently has $2.00 price objective on the semiconductor company’s stock, up from their previous price objective of $1.50.
A number of other research firms also recently weighed in on QUIK. ValuEngine downgraded QuickLogic Corporation from a hold rating to a sell rating in a research report on Friday, September 1st. Zacks Investment Research upgraded QuickLogic Corporation from a sell rating to a hold rating in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating and three have assigned a buy rating to the stock. The company currently has an average rating of Hold and a consensus target price of $2.31.
QuickLogic Corporation (NASDAQ QUIK) opened at 1.68 on Monday. The company’s market cap is $134.59 million. The company’s 50-day moving average price is $1.40 and its 200 day moving average price is $1.51. QuickLogic Corporation has a 52 week low of $0.75 and a 52 week high of $2.48.
QuickLogic Corporation (NASDAQ:QUIK) last issued its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). The firm 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 business’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.07) EPS. On average, analysts anticipate that QuickLogic Corporation will post ($0.17) EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in shares of QuickLogic Corporation by 10.6% during the second quarter. Bank of New York Mellon Corp now owns 79,489 shares of the semiconductor company’s stock worth $116,000 after acquiring an additional 7,624 shares during the last quarter. Sei Investments Co. bought a new stake in shares of QuickLogic Corporation during the second quarter worth $123,000. AWM Investment Company Inc. bought a new stake in shares of QuickLogic Corporation during the first quarter worth $178,000. Segantii Capital Management Ltd bought a new stake in shares of QuickLogic Corporation during the first quarter worth $189,000. Finally, Northern Trust Corp raised its position in shares of QuickLogic Corporation by 20.1% during the second quarter. Northern Trust Corp now owns 159,105 shares of the semiconductor company’s stock worth $232,000 after acquiring an additional 26,599 shares during the last quarter. Institutional investors own 19.94% of the company’s stock.
QuickLogic Corporation 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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