Sprott Inc. Invests $170,000 in QuickLogic Co. (NASDAQ:QUIK)

Sprott Inc. purchased a new stake in shares of QuickLogic Co. (NASDAQ:QUIK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,000 shares of the semiconductor company’s stock, valued at approximately $170,000.

A number of other hedge funds and other institutional investors have also modified their holdings of QUIK. Crews Bank & Trust acquired a new position in QuickLogic during the 4th quarter worth $28,000. Quest Partners LLC lifted its stake in shares of QuickLogic by 5,067.5% during 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 during the period. Cutter & CO Brokerage Inc. bought a new position in QuickLogic in the third quarter valued at about $106,000. Barclays PLC increased its position in QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the period. Finally, State Street Corp raised its holdings in QuickLogic by 15.6% during the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after purchasing an additional 26,774 shares during the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

Analysts Set New Price Targets

QUIK has been the topic of several recent research reports. Craig Hallum reduced their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research note on Tuesday, December 17th. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. Finally, Northland Securities assumed coverage on QuickLogic in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.53.

Insider Activity

In other QuickLogic news, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $64,374.29. Following the transaction, the chief financial officer now directly owns 60,955 shares in the company, valued at approximately $450,457.45. The trade was a 12.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Brian C. Faith sold 21,402 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $158,160.78. Following the completion of the sale, the chief executive officer now owns 193,584 shares of the company’s stock, valued at $1,430,585.76. This trade represents a 9.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,960 shares of company stock valued at $331,150 in the last quarter. Company insiders own 2.49% of the company’s stock.

QuickLogic Stock Up 10.9 %

QuickLogic stock opened at $7.31 on Thursday. QuickLogic Co. has a fifty-two week low of $6.41 and a fifty-two week high of $20.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. The firm has a market capitalization of $107.51 million, a price-to-earnings ratio of -73.10 and a beta of 1.39. The company’s 50 day simple moving average is $8.80 and its 200 day simple moving average is $8.24.

QuickLogic Profile

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.