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

StockNews.com upgraded shares of QuickLogic (NASDAQ:QUIK) to a sell rating in a research report released on Monday morning.

Several other research analysts also recently commented on the stock. Oppenheimer lowered their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Craig Hallum lowered their price objective 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 NASDAQ:QUIK opened at $8.14 on Monday. QuickLogic has a 12-month low of $6.75 and a 12-month high of $20.75. The stock has a market cap of $119.71 million, a PE ratio of -81.40 and a beta of 1.56. The business has a 50 day moving average of $7.89 and a 200-day moving average of $9.33. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results 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 the consensus estimate of $4.20 million. During the same quarter last year, the firm posted $0.08 earnings per share. As a group, equities research analysts forecast that QuickLogic will post -0.29 earnings per share for the current year.

Insider Transactions at QuickLogic

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

Institutional Trading of QuickLogic

A number of institutional investors and hedge funds have recently bought and sold shares of QUIK. State Street Corp boosted its position in 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. Raymond James & Associates boosted its position in QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock valued at $1,343,000 after acquiring an additional 58,668 shares during the last quarter. Marshall Wace LLP boosted its position in QuickLogic by 118.4% during the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after acquiring an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp boosted its position in 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 valued at $676,000 after acquiring an additional 38,273 shares during the last quarter. Finally, Squarepoint Ops LLC boosted its position in QuickLogic by 194.3% during the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 36,409 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

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.