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

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

QUIK has been the topic of several other reports. Craig Hallum lowered their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Oppenheimer lowered their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th.

QuickLogic Stock Up 0.4 %

NASDAQ QUIK traded up $0.03 during trading on Wednesday, reaching $7.08. 174,367 shares of the company’s stock were exchanged, compared to its average volume of 229,541. The company has a 50 day moving average price of $7.85 and a two-hundred day moving average price of $9.65. The stock has a market cap of $104.13 million, a P/E ratio of -70.80 and a beta of 1.56. QuickLogic has a 1 year low of $6.75 and a 1 year 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 (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 company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same quarter in the prior year, the company earned $0.08 EPS. On average, equities research analysts anticipate that QuickLogic will post 0.08 EPS for the current fiscal year.

Insider Activity

In related news, CFO Elias Nader sold 4,458 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 52,740 shares in the company, valued at approximately $391,330.80. This trade represents a 7.79 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction 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 transaction, the vice president now owns 108,004 shares in the company, valued at $750,627.80. The trade was a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,324 shares of company stock valued at $348,635 over the last quarter. Company insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Hedge funds have recently bought and sold shares of the business. Acuitas Investments LLC raised 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 purchasing an additional 3,400 shares during the period. American Century Companies Inc. lifted its stake in QuickLogic by 24.8% in the second quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 3,750 shares during the last quarter. Barclays PLC boosted its holdings in shares of QuickLogic by 34.8% during the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 5,079 shares during the period. Quest Partners LLC grew its position in shares of QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after acquiring an additional 10,743 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of QuickLogic in the 2nd quarter worth about $127,000. Institutional investors and hedge funds 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.