QuickLogic Co. (QUIK) Receives Consensus Recommendation of “Strong Buy” from Analysts

QuickLogic Co. (NASDAQ:QUIK) has received a consensus broker rating score of 1.00 (Strong Buy) from the two brokers that provide coverage for the stock, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.

Brokerages have set a one year consensus price target of $2.25 for the company and are forecasting that the company will post ($0.03) EPS for the current quarter, according to Zacks. Zacks has also given QuickLogic an industry rank of 85 out of 257 based on the ratings given to its competitors.

Separately, Zacks Investment Research cut QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday, August 14th.

Several institutional investors have recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of QuickLogic by 16.4% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 387,184 shares of the semiconductor company’s stock worth $387,000 after purchasing an additional 54,465 shares during the period. Northern Trust Corp lifted its stake in shares of QuickLogic by 35.7% during the 2nd quarter. Northern Trust Corp now owns 230,594 shares of the semiconductor company’s stock worth $266,000 after acquiring an additional 60,658 shares during the last quarter. Bridgeway Capital Management Inc. lifted its stake in shares of QuickLogic by 124.0% during the 3rd quarter. Bridgeway Capital Management Inc. now owns 234,800 shares of the semiconductor company’s stock worth $235,000 after acquiring an additional 130,000 shares during the last quarter. Worth Venture Partners LLC bought a new stake in shares of QuickLogic during the 3rd quarter worth approximately $230,000. Finally, Strategic Wealth Advisors Group LLC bought a new stake in shares of QuickLogic during the 3rd quarter worth approximately $264,000. Hedge funds and other institutional investors own 23.63% of the company’s stock.

Shares of QuickLogic stock traded down $0.01 on Monday, reaching $0.99. The company had a trading volume of 148,247 shares, compared to its average volume of 234,921. The stock has a market cap of $95.19 million, a price-to-earnings ratio of -5.50 and a beta of -0.17. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.07 and a current ratio of 2.39. QuickLogic has a 1 year low of $0.78 and a 1 year high of $2.22.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Wednesday, November 7th. The semiconductor company reported ($0.03) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.03). The firm had revenue of $3.51 million during the quarter, compared to analysts’ expectations of $3.50 million. QuickLogic had a negative return on equity of 79.85% and a negative net margin of 114.11%. During the same quarter in the previous year, the business earned ($0.04) EPS. Sell-side analysts predict that QuickLogic will post -0.14 earnings per share for the current fiscal year.

QuickLogic Company Profile

QuickLogic Corporation, a semiconductor company, designs, markets, and supports silicon solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. The company also provides Field Programmable Gate Arrays (FPGAs), software drivers, and associated design software and programming hardware, as well as eFPGA intellectual property (IP), such as ArcticPro and ArcticPro 2.

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