Sprott Inc. Buys New Position in QuickLogic Co. (NASDAQ:QUIK)

Sprott Inc. purchased a new position in QuickLogic Co. (NASDAQ:QUIK) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 15,000 shares of the semiconductor company’s stock, valued at approximately $170,000. Sprott Inc. owned 0.10% of QuickLogic as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. State Street Corp lifted its stake in shares of QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after buying an additional 26,774 shares during the period. Cutter & CO Brokerage Inc. bought a new stake in shares of QuickLogic in the 3rd quarter worth approximately $106,000. Quest Partners LLC lifted its position 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 period. 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 in the last quarter. Finally, Crews Bank & Trust bought a new stake in shares of QuickLogic during the fourth quarter valued at approximately $28,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at QuickLogic

In other news, CFO Elias Nader sold 8,711 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the sale, the chief financial officer now owns 60,955 shares of the company’s stock, valued at approximately $450,457.45. This trade represents a 12.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Timothy Saxe sold 10,886 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $80,447.54. Following the completion of the transaction, the vice president now directly owns 117,609 shares in the company, valued at $869,130.51. The trade was a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,960 shares of company stock valued at $331,150 in the last ninety days. Insiders own 2.49% of the company’s stock.

Wall Street Analysts Forecast Growth

QUIK has been the subject of several research reports. Northland Securities initiated coverage on QuickLogic in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price for the company. Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Craig Hallum lowered their target price 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. Finally, StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, QuickLogic has an average rating of “Moderate Buy” and a consensus target price of $11.53.

QuickLogic Stock Up 10.9 %

Shares of NASDAQ:QUIK opened at $7.31 on Thursday. The company’s fifty day moving average is $8.80 and its 200-day moving average is $8.24. 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 Co. has a 52 week low of $6.41 and a 52 week high of $20.75. The company has a market capitalization of $107.51 million, a PE ratio of -73.10 and a beta of 1.39.

QuickLogic 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.