QuickLogic (NASDAQ:QUIK) Raised to “Sell” at StockNews.com

QuickLogic (NASDAQ:QUIK) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a note issued to investors on Monday.

Several other brokerages have also recently commented on QUIK. Craig Hallum reduced 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 lowered their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th.

QuickLogic Trading Up 6.7 %

Shares of NASDAQ:QUIK traded up $0.51 during mid-day trading on Monday, hitting $8.14. The stock had a trading volume of 173,393 shares, compared to its average volume of 226,386. QuickLogic has a 12-month low of $6.75 and a 12-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. The company has a market cap of $119.71 million, a PE ratio of -81.40 and a beta of 1.56. The company’s 50 day moving average is $7.89 and its 200-day moving average is $9.33.

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 net margin of 6.83% and a negative return on equity of 7.30%. The business had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same period in the previous year, the firm posted $0.08 EPS. On average, sell-side analysts predict that QuickLogic will post -0.29 EPS for the current year.

Insider Activity at QuickLogic

In related news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the vice president now owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Elias Nader sold 4,458 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $7.42, for a total transaction of $33,078.36. Following the sale, the chief financial officer now owns 52,740 shares in the company, valued at $391,330.80. The trade was a 7.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.49% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of 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 buying an additional 26,774 shares in the last quarter. Raymond James & Associates increased its position 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 boosted its position in 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 buying an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of QuickLogic by 142.9% during the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after buying an additional 38,273 shares during the last quarter. Finally, Squarepoint Ops LLC increased its holdings in shares of 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 buying 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.