QuickLogic (NASDAQ:QUIK) Upgraded at StockNews.com

StockNews.com upgraded shares of QuickLogic (NASDAQ:QUIK) to a sell rating in a research report report published on Wednesday morning.

A number of other equities research analysts have also issued reports on the stock. Craig Hallum dropped their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Oppenheimer cut their price target on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th.

QuickLogic Stock Up 0.1 %

Shares of NASDAQ QUIK opened at $7.53 on Wednesday. The stock has a market cap of $110.77 million, a PE ratio of -75.30 and a beta of 1.56. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. QuickLogic has a 12-month low of $6.75 and a 12-month high of $20.75. The company has a 50-day moving average of $7.84 and a 200 day moving average of $9.62.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same period in the prior year, the business posted $0.08 EPS. As a group, sell-side analysts predict that QuickLogic will post 0.08 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Elias Nader sold 4,458 shares of QuickLogic stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total value of $33,078.36. Following the completion of the sale, the chief financial officer now owns 52,740 shares in the company, valued at approximately $391,330.80. This trade represents a 7.79 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the transaction, the vice president now owns 108,004 shares in the company, valued at $750,627.80. This trade represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,324 shares of company stock valued at $348,635. 2.49% of the stock is currently owned by insiders.

Institutional Trading of QuickLogic

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Acuitas Investments LLC grew 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 valued at $101,000 after purchasing an additional 3,400 shares in the last quarter. American Century Companies Inc. grew its stake in shares of QuickLogic by 24.8% in the second quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 3,750 shares in the last quarter. Barclays PLC increased its position in shares of QuickLogic by 34.8% during the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after acquiring an additional 5,079 shares during the period. Quest Partners LLC raised its stake in shares of QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 10,743 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in QuickLogic in the second quarter valued at $127,000. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

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.