QuickLogic (NASDAQ:QUIK) Coverage Initiated by Analysts at CIBC

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CIBC initiated coverage on shares of QuickLogic (NASDAQ:QUIK) in a report released on Thursday morning, FirstToMarketsRatingsTable reports. The firm issued an outperform rating on the semiconductor company’s stock.

Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of QuickLogic from a buy rating to a sell rating in a research note on Tuesday, August 13th. Oppenheimer assumed coverage on shares of QuickLogic in a research note on Wednesday, August 14th. They issued an outperform rating and a $1.00 price objective for the company. Finally, Roth Capital lowered shares of QuickLogic from a buy rating to a neutral rating in a research note on Wednesday, June 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. QuickLogic has an average rating of Hold and a consensus target price of $1.00.

NASDAQ:QUIK opened at $0.39 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.45 and a current ratio of 1.86. The firm has a market cap of $44.28 million, a price-to-earnings ratio of -2.60 and a beta of 0.33. QuickLogic has a 52 week low of $0.30 and a 52 week high of $1.19. The firm has a 50-day moving average price of $0.51 and a two-hundred day moving average price of $0.70.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). The firm had revenue of $2.09 million during the quarter, compared to analysts’ expectations of $2.20 million. QuickLogic had a negative net margin of 120.05% and a negative return on equity of 77.17%. During the same quarter last year, the business posted ($0.04) EPS. As a group, sell-side analysts forecast that QuickLogic will post -0.12 earnings per share for the current year.

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of QuickLogic during the 4th quarter worth approximately $27,000. Tower Research Capital LLC TRC increased its stake in shares of QuickLogic by 731.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock worth $38,000 after purchasing an additional 58,438 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of QuickLogic by 38.4% during the 2nd quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 41,219 shares during the last quarter. NJ State Employees Deferred Compensation Plan increased its stake in shares of QuickLogic by 46.7% during the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 220,000 shares of the semiconductor company’s stock worth $134,000 after purchasing an additional 70,000 shares during the last quarter. Finally, Intel Corp purchased a new stake in shares of QuickLogic during the 1st quarter worth approximately $218,000. Institutional investors own 11.43% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

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