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

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

Other research analysts have also issued research reports about the company. Oppenheimer cut their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a 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 Trading Up 6.7 %

Shares of QuickLogic stock traded up $0.51 on Monday, hitting $8.14. 173,393 shares of the company’s stock traded hands, compared to its average volume of 226,386. The company has a market capitalization of $119.71 million, a price-to-earnings ratio of -81.40 and a beta of 1.56. The company has a fifty day moving average of $7.89 and a two-hundred day moving average of $9.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. QuickLogic has a one year low of $6.75 and a one year high of $20.75.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) 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 company had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same period last year, the business earned $0.08 EPS. As a group, sell-side analysts expect that QuickLogic will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the transaction, the vice president now owns 108,004 shares of the company’s stock, valued at $750,627.80. The trade was a 8.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Elias Nader sold 4,458 shares of the company’s stock in a transaction dated 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 owns 52,740 shares in the company, valued at approximately $391,330.80. This represents a 7.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently bought and sold shares of the company. American Century Companies Inc. grew its position in shares of QuickLogic by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 3,750 shares in the last quarter. Quest Partners LLC raised its holdings in shares of QuickLogic by 5,067.5% in the 3rd quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 10,743 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of QuickLogic by 142.9% during 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 acquiring an additional 38,273 shares during the last quarter. Raymond James & Associates grew its holdings 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 in the last quarter. Finally, Rhumbline Advisers bought a new position in shares of QuickLogic in the 2nd quarter worth $172,000. Hedge funds and other 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.