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

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

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

QuickLogic Price Performance

Shares of QuickLogic stock opened at $7.75 on Wednesday. The firm has a market cap of $114.00 million, a P/E ratio of -77.40 and a beta of 1.59. The firm’s 50-day simple moving average is $7.88 and its 200-day simple moving average is $9.13. QuickLogic has a twelve month low of $6.75 and a twelve month high of $20.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same period in the previous year, the firm posted $0.08 earnings per share. As a group, research analysts expect that QuickLogic will post -0.29 EPS for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other news, CEO Brian C. Faith sold 21,402 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the transaction, the chief executive officer now directly owns 193,584 shares in the company, valued at approximately $1,430,585.76. This represents a 9.96 % decrease in their ownership of the stock. The sale 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 stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the sale, the vice president now directly 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 quarter, insiders sold 52,117 shares of company stock worth $381,460. 2.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently made changes to their positions in QUIK. Quest Partners LLC increased its position in QuickLogic by 5,067.5% in 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 period. Acuitas Investments LLC grew its position in shares of QuickLogic by 54.0% during the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after buying an additional 3,400 shares during the period. Cutter & CO Brokerage Inc. bought a new stake in shares of QuickLogic during the third quarter worth approximately $106,000. XTX Topco Ltd bought a new stake in shares of QuickLogic during the second quarter worth approximately $127,000. Finally, Barclays PLC lifted its holdings in QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 5,079 shares during the period. Institutional investors own 31.54% of the company’s stock.

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.