QuickLogic (NASDAQ:QUIK) Rating Increased to Sell at StockNews.com

QuickLogic (NASDAQ:QUIK) was upgraded by StockNews.com to a “sell” rating in a report issued on Monday.

Other equities research analysts have also issued reports about the company. Craig Hallum dropped their price target 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 price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th.

QuickLogic Stock Down 2.7 %

Shares of QUIK opened at $7.92 on Monday. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The company has a market cap of $116.50 million, a PE ratio of -79.20 and a beta of 1.59. QuickLogic has a 52-week low of $6.75 and a 52-week high of $20.75. The business has a fifty day moving average of $7.90 and a 200 day moving average of $9.30.

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

Insiders Place Their Bets

In other QuickLogic news, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $7.42, for a total transaction of $33,078.36. Following the sale, the chief financial officer now directly owns 52,740 shares in the company, valued at approximately $391,330.80. The trade was a 7.79 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy Saxe sold 10,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value of $69,500.00. Following the sale, the vice president now owns 108,004 shares of the company’s stock, valued at $750,627.80. This trade represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuickLogic

Several institutional investors and hedge funds have recently added to or reduced their stakes in QUIK. State Street Corp lifted its holdings in shares of QuickLogic by 15.6% during the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after acquiring an additional 26,774 shares during the period. Raymond James & Associates increased its stake in QuickLogic by 83.1% during the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 58,668 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 38,273 shares during the last quarter. Finally, Squarepoint Ops LLC raised its holdings in QuickLogic by 194.3% during the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares in the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

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.