Quest Partners LLC Has $84,000 Stock Position in QuickLogic Co. (NASDAQ:QUIK)

Quest Partners LLC grew its stake in shares of QuickLogic Co. (NASDAQ:QUIK) by 5,067.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,955 shares of the semiconductor company’s stock after purchasing an additional 10,743 shares during the period. Quest Partners LLC owned approximately 0.08% of QuickLogic worth $84,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Acuitas Investments LLC raised its holdings in shares of QuickLogic by 54.0% during 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 during the period. American Century Companies Inc. raised its holdings in shares of QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 3,750 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of QuickLogic in the 2nd quarter worth about $127,000. Cutter & CO Brokerage Inc. acquired a new stake in shares of QuickLogic in the 3rd quarter worth about $106,000. Finally, Rhumbline Advisers acquired a new stake in shares of QuickLogic in the 2nd quarter worth about $172,000. Institutional investors and hedge funds own 31.54% of the company’s stock.

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Elias Nader sold 4,458 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total transaction of $33,078.36. Following the transaction, the chief financial officer now directly owns 52,740 shares of the company’s stock, valued at $391,330.80. This represents a 7.79 % 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.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Oppenheimer lowered their target price on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday, November 20th. Finally, 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 report on Tuesday, November 12th.

QuickLogic Trading Down 1.4 %

NASDAQ:QUIK opened at $7.63 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The firm has a market cap of $112.21 million, a price-to-earnings ratio of -76.30 and a beta of 1.56. QuickLogic Co. has a 52 week low of $6.75 and a 52 week high of $20.75. The firm has a 50-day moving average price of $7.87 and a two-hundred day moving average price of $9.40.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data 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 firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations 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 quarter last year, the business posted $0.08 EPS. On average, equities analysts expect that QuickLogic Co. will post -0.29 earnings per share for the current fiscal year.

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.