In the last trading session, 1,546,039 shares of the QuickLogic Corporation(NASDAQ:QUIK) were traded, and its beta was 2.54. Most recently the company’s share price was $8.96, and it changed around $1.04 or 0.13% from the last close, which brings the market valuation of the company to $99.17 Million. QUIK currently trades at a discount to its 52-week high of $12.49, offering almost -39.4% off that amount. The share price’s 52-week low was $2.12, which indicates that the current value has risen by an impressive 76.34% since then. We note from QuickLogic Corporation’s average daily trading volume that its 10-day average is 3.71 Million shares, with the 3-month average coming to 417.01 Million.
QuickLogic Corporation stock received a consensus recommendation rating of Overweight, based on a mean score of 2. If we narrow it down even further, the data shows that none out of 3 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 1 recommended QUIK as a Hold, whereas 2 deemed it a Buy, and no one rated it as Underweight. QuickLogic Corporation is expected to report earnings per share of -$0.07 for the current quarter.
QuickLogic Corporation (NASDAQ:QUIK): Trading Information
Instantly QUIK has showed a green trend with a performance of 13.13% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $12.49 on Thursday, Feb 18 increased the stock’s daily price by 28.26%. The company’s shares are currently up 1.36% year-to-date, but still up 0.638 over the last five days. On the other hand, QuickLogic Corporation (NASDAQ:QUIK) is 0.99% up in the 30-day period. We can see from the shorts that 40.13 Million shares have been sold at a short interest cover period of 0.1 day(s).
The consensus price target as assigned by Wall Street analysts is $7.67, which translates to bears needing to reduce their stock price by -14.4% from its current value. Analyst projections state that QUIK is forecast to be at a low of $7 and a high of $8. In order for the stock price to hit the forecast high, the stock would need to surge -10.71% from its current level, while the stock would need to crash -21.88% from its current level to reach the projected low.
QuickLogic Corporation (QUIK) projections and forecasts
QuickLogic Corporation share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +173.17 percent over the past six months and at a -68.18% annual growth rate that is well below the industry average of 20.5%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain +81.1% in revenue this quarter, and will report an increase of 57.7% in the next quarter. The year-over-year growth rate is expected to be 67.6%, up from the previous year.
Consensus estimates provided by 3 financial analysts predict the company will bring in an average of $2.5 Million in revenue for the current quarter. 3 analysts expect QuickLogic Corporation to make $3.23 Million in revenue for the quarter ending June 01, 2021. The company’s sales for the same quarters a year ago were $2.16 Million and $2.2 Million respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 15.8%. Forecasts for the next quarter put sales growth at 47.1%.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 9.4%. QuickLogic Corporation earnings are expected to increase by 6.9% in 2021, but the outlook is positive 20% per year for the next five years.
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QuickLogic Corporation (NASDAQ:QUIK)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 1.28% of QuickLogic Corporation shares, and 26.08% of them are in the hands of institutional investors. The stock currently has a share float of 26.42%. QuickLogic Corporation stock is held by 30 institutions, with AWM Investment Company, Inc. being the largest institutional investor. By Sep 29, 2020, it held 7.97% of the shares, which is about 882.12 Thousand shares worth $2.74 Million.
Taylor Frigon Capital Management, LLC, with 5.9% or 653.57 Thousand shares worth $2.48 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.