QuickLogic (NASDAQ:QUIK) Upgraded by StockNews.com to “Sell” Rating

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

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

QuickLogic Stock Performance

Shares of QUIK opened at $7.53 on Wednesday. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average of $7.84 and a 200 day moving average of $9.57. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75. The company has a market capitalization of $110.77 million, a price-to-earnings ratio of -75.30 and a beta of 1.56.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same period in the prior year, the business earned $0.08 earnings per share. As a group, sell-side analysts forecast that QuickLogic will post -0.29 earnings per share for the current year.

Insider Transactions at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the firm’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 completion of the transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This trade represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elias Nader sold 4,458 shares of QuickLogic stock in a transaction 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 sale, the chief financial officer now directly owns 52,740 shares of the company’s stock, valued at $391,330.80. This represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,324 shares of company stock valued at $348,635 over the last three months. Company insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Large investors have recently added to or reduced their stakes in the business. Acuitas Investments LLC lifted its stake in QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 3,400 shares during the last quarter. Quest Partners LLC lifted its stake in QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares during the last quarter. XTX Topco Ltd bought a new stake in QuickLogic during the second quarter worth about $127,000. Cutter & CO Brokerage Inc. bought a new stake in QuickLogic during the third quarter worth about $106,000. Finally, Rhumbline Advisers bought a new stake in QuickLogic during the second quarter worth about $172,000. Institutional investors own 31.54% of the company’s stock.

QuickLogic Company 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.