Barclays PLC Raises Stock Position in QuickLogic Co. (NASDAQ:QUIK)

Barclays PLC raised its stake in QuickLogic Co. (NASDAQ:QUIK) by 34.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,676 shares of the semiconductor company’s stock after buying an additional 5,079 shares during the period. Barclays PLC owned approximately 0.13% of QuickLogic worth $150,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in QUIK. Rhumbline Advisers acquired a new stake in shares of QuickLogic in the second quarter valued at approximately $172,000. American Century Companies Inc. grew its position in shares of 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 purchasing an additional 3,750 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of QuickLogic in the second quarter valued at approximately $127,000. Marshall Wace LLP grew its position in shares of QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares during the last quarter. Finally, Squarepoint Ops LLC grew its position in shares of 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 last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

QuickLogic Price Performance

QUIK opened at $9.36 on Thursday. The company has a 50-day moving average of $8.66 and a 200-day moving average of $8.74. The company has a market capitalization of $137.69 million, a P/E ratio of -93.60 and a beta of 1.42. QuickLogic Co. 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 posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business 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 firm posted $0.08 earnings per share. Equities analysts expect that QuickLogic Co. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, CFO Elias Nader sold 8,711 shares of the business’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 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 transaction of $80,447.54. Following the completion of the sale, the vice president now directly owns 117,609 shares of the company’s stock, valued at $869,130.51. This represents a 8.47 % 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 ninety days. 1.70% of the stock is currently owned by corporate insiders.

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.