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

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

Several other analysts also recently weighed in on QUIK. Oppenheimer reduced their price objective 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. Craig Hallum reduced their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

QuickLogic Stock Performance

Shares of QUIK stock opened at $7.53 on Wednesday. The company has a market cap of $110.77 million, a P/E ratio of -75.30 and a beta of 1.56. The firm has a fifty day moving average price of $7.84 and a 200 day moving average price of $9.62. 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.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same period in the prior year, the company posted $0.08 earnings per share. Sell-side analysts predict that QuickLogic will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at QuickLogic

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

Hedge Funds Weigh In On QuickLogic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its position 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 acquiring an additional 26,774 shares during the period. Raymond James & Associates raised its stake in shares of QuickLogic by 83.1% during the second 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 during the last quarter. Marshall Wace LLP lifted its holdings in shares of QuickLogic by 118.4% during the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after purchasing an additional 39,878 shares during the period. Bank of New York Mellon Corp grew its position in QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after buying an additional 38,273 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in QuickLogic by 29.9% in the 1st quarter. Acadian Asset Management LLC now owns 63,152 shares of the semiconductor company’s stock valued at $1,010,000 after buying an additional 14,520 shares during the period. Hedge funds and other 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.