Craig Hallum Lowers QuickLogic (NASDAQ:QUIK) Price Target to $12.00

QuickLogic (NASDAQ:QUIK) had its target price lowered by analysts at Craig Hallum from $16.00 to $12.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the semiconductor company’s stock. Craig Hallum’s target price would indicate a potential upside of 27.39% from the company’s current price.

Separately, StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday.

QuickLogic Stock Performance

Shares of QUIK opened at $9.42 on Wednesday. The firm has a market capitalization of $135.84 million, a PE ratio of 157.00 and a beta of 1.63. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $10.73 and a 200 day moving average price of $12.75. QuickLogic has a 52-week low of $7.11 and a 52-week high of $20.75.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Monday, May 13th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.01. QuickLogic had a net margin of 4.65% and a return on equity of 6.57%. The business had revenue of $6.01 million during the quarter, compared to analysts’ expectations of $6.20 million. On average, sell-side analysts anticipate that QuickLogic will post 0.22 earnings per share for the current fiscal year.

Insider Activity at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $11.76, for a total value of $117,600.00. Following the transaction, the vice president now owns 114,934 shares of the company’s stock, valued at $1,351,623.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently modified their holdings of QUIK. Hillsdale Investment Management Inc. increased its stake in QuickLogic by 918.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 4,410 shares in the last quarter. Acuitas Investments LLC boosted its holdings in shares of QuickLogic by 54.0% in the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after buying an additional 3,400 shares during the period. XTX Topco Ltd acquired a new position in shares of QuickLogic in the second quarter worth about $127,000. Rhumbline Advisers purchased a new position in shares of QuickLogic in the second quarter worth approximately $172,000. Finally, Gladstone Institutional Advisory LLC raised its holdings in shares of QuickLogic by 13.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock valued at $179,000 after acquiring an additional 1,565 shares during the period. 31.54% of the stock is owned by institutional investors and hedge funds.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.