QuickLogic (NASDAQ:QUIK) Earns Buy Rating from Analysts at Lake Street Capital

Equities research analysts at Lake Street Capital started coverage on shares of QuickLogic (NASDAQ:QUIK) in a research report issued to clients and investors on Monday. The brokerage set a “buy” rating and a $10.00 price target on the semiconductor company’s stock. Lake Street Capital’s target price would suggest a potential upside of 40.85% from the stock’s current price.

Other equities research analysts also recently issued research reports about the stock. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research report on Monday, December 29th. Northland Securities lowered shares of QuickLogic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 12th. Two 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 stock. Based on data from MarketBeat, QuickLogic currently has an average rating of “Hold” and an average price target of $10.50.

QuickLogic Stock Performance

NASDAQ:QUIK opened at $7.10 on Monday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14. The firm has a market cap of $121.34 million, a price-to-earnings ratio of -12.46 and a beta of 0.80. The firm’s fifty day moving average price is $6.99 and its 200 day moving average price is $6.44. QuickLogic has a 1-year low of $4.26 and a 1-year high of $9.27.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Wednesday, November 12th. The semiconductor company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. The company had revenue of $2.03 million during the quarter, compared to the consensus estimate of $2.05 million. QuickLogic had a negative net margin of 58.26% and a negative return on equity of 33.71%. On average, sell-side analysts expect that QuickLogic will post -0.29 EPS for the current year.

Insiders Place Their Bets

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 sale, the chief financial officer directly owned 65,506 shares in the company, valued at approximately $412,687.80. This represents a 7.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 17,500 shares of company stock worth $110,579. 1.50% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On QuickLogic

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

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.