QuickLogic (NASDAQ:QUIK) Upgraded at StockNews.com

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

Several other research firms have also weighed in on QUIK. Oppenheimer reduced their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note 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 on the stock in a research report on Tuesday, November 12th.

QuickLogic Stock Down 2.5 %

Shares of NASDAQ:QUIK opened at $7.41 on Wednesday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. The stock has a market cap of $108.98 million, a price-to-earnings ratio of -74.10 and a beta of 1.59. The company has a 50 day moving average of $7.89 and a 200-day moving average of $9.18. QuickLogic has a one year low of $6.75 and a one year high of $20.75.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same period last year, the company earned $0.08 EPS. On average, sell-side analysts forecast that QuickLogic will post -0.29 earnings per share for the current year.

Insider Activity

In related news, VP Timothy Saxe sold 10,000 shares of the firm’s 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 sale, the vice president now directly owns 108,004 shares in the company, valued at $750,627.80. This trade represents a 8.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Elias Nader sold 8,711 shares of the company’s stock in a transaction on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the transaction, the chief financial officer now directly owns 60,955 shares of the company’s stock, valued at approximately $450,457.45. The trade was a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,117 shares of company stock worth $381,460 in the last 90 days. Corporate insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Quest Partners LLC boosted its position in QuickLogic by 5,067.5% during 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. Acuitas Investments LLC grew its position in QuickLogic by 54.0% in the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in QuickLogic in the 3rd quarter valued at $106,000. XTX Topco Ltd acquired a new position in shares of QuickLogic during the 2nd quarter worth about $127,000. Finally, Barclays PLC increased its position in shares of QuickLogic by 34.8% in 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 last quarter. 31.54% of the stock is currently owned by institutional investors.

About QuickLogic

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.