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 report released on Wednesday morning.

A number of other equities research analysts have also recently commented on the stock. Craig Hallum dropped their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Oppenheimer cut their price target 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 Stock Up 0.4 %

Shares of QUIK stock opened at $7.08 on Wednesday. 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 has a fifty-two week low of $6.75 and a fifty-two week high of $20.75. The firm has a market capitalization of $104.13 million, a PE ratio of -70.80 and a beta of 1.56. The stock’s 50-day simple moving average is $7.85 and its 200-day simple moving average is $9.65.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share 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 during the quarter, compared to analyst estimates of $4.20 million. During the same quarter last year, the company posted $0.08 EPS. Equities analysts expect that QuickLogic will post 0.08 earnings per share for the current year.

Insider Transactions at QuickLogic

In related news, 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 value of $69,500.00. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Elias Nader sold 4,458 shares of QuickLogic stock in a transaction on 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 directly owns 52,740 shares in the company, valued at approximately $391,330.80. This trade represents a 7.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,324 shares of company stock valued at $348,635 over the last 90 days. Corporate insiders own 2.49% of the company’s stock.

Institutional Trading of QuickLogic

Several institutional investors have recently made changes to their positions in QUIK. Barclays PLC grew its holdings in shares of QuickLogic by 34.8% during the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the period. State Street Corp increased its position in shares of QuickLogic by 15.6% during the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after acquiring an additional 26,774 shares during the last quarter. Quest Partners LLC lifted 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 worth $84,000 after acquiring an additional 10,743 shares during the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in QuickLogic in the 3rd quarter valued at approximately $106,000. Finally, Squarepoint Ops LLC raised its position in QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after purchasing an additional 36,409 shares during the period. 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.