QuickLogic Corporation (QUIK) Upgraded to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of QuickLogic Corporation (NASDAQ:QUIK) from a hold rating to a buy rating in a research note published on Tuesday morning. The brokerage currently has $2.00 price target on the semiconductor company’s stock.
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. “
A number of other equities research analysts have also commented on QUIK. ValuEngine lowered shares of QuickLogic Corporation from a hold rating to a sell rating in a research note on Friday, September 1st. Roth Capital raised shares of QuickLogic Corporation from a neutral rating to a buy rating and upped their price objective for the company from $1.50 to $2.00 in a research note on Monday, September 11th. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of $2.17.
QuickLogic Corporation (QUIK) traded up $0.12 during trading hours on Tuesday, hitting $1.60. 238,514 shares of the stock were exchanged, compared to its average volume of 377,930. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.27 and a current ratio of 2.61. QuickLogic Corporation has a 12 month low of $0.80 and a 12 month high of $2.48.
QuickLogic Corporation (NASDAQ:QUIK) last posted its quarterly earnings data on Wednesday, November 8th. The semiconductor company reported ($0.04) EPS for the quarter, meeting the Zacks’ consensus estimate of ($0.04). QuickLogic Corporation had a negative net margin of 120.37% and a negative return on equity of 76.28%. The company had revenue of $2.97 million for the quarter, compared to analyst estimates of $3.02 million. During the same period in the prior year, the firm posted ($0.06) EPS. The company’s quarterly revenue was up 5.7% on a year-over-year basis. equities research analysts forecast that QuickLogic Corporation will post -0.17 earnings per share for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its position in shares of QuickLogic Corporation by 10.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 79,489 shares of the semiconductor company’s stock valued at $116,000 after acquiring an additional 7,624 shares during the period. Sei Investments Co. acquired a new position in shares of QuickLogic Corporation during the 2nd quarter valued at $123,000. Northern Trust Corp lifted its position in shares of QuickLogic Corporation by 20.1% during the 2nd quarter. Northern Trust Corp now owns 159,105 shares of the semiconductor company’s stock valued at $232,000 after acquiring an additional 26,599 shares during the period. Creative Planning lifted its position in shares of QuickLogic Corporation by 18.6% during the 2nd quarter. Creative Planning now owns 191,177 shares of the semiconductor company’s stock valued at $279,000 after acquiring an additional 30,000 shares during the period. Finally, Adirondack Research & Management Inc. lifted its position in shares of QuickLogic Corporation by 2.8% during the 2nd quarter. Adirondack Research & Management Inc. now owns 279,300 shares of the semiconductor company’s stock valued at $408,000 after acquiring an additional 7,500 shares during the period. Institutional investors own 19.50% 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).
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