State Street Corp Increases Stock Position in QuickLogic Co. (NASDAQ:QUIK)

State Street Corp boosted its holdings in shares of QuickLogic Co. (NASDAQ:QUIK) by 15.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,500 shares of the semiconductor company’s stock after buying an additional 26,774 shares during the quarter. State Street Corp owned approximately 1.37% of QuickLogic worth $1,522,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of QUIK. American Century Companies Inc. increased 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 valued at $196,000 after acquiring an additional 3,750 shares during the period. Quest Partners LLC raised its holdings in QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of 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 buying an additional 38,273 shares during the last quarter. Raymond James & Associates grew its position in shares of QuickLogic by 83.1% in the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after buying an additional 58,668 shares during the last quarter. Finally, Rhumbline Advisers bought a new position in shares of QuickLogic during the 2nd quarter worth approximately $172,000. Institutional investors own 31.54% of the company’s stock.

QuickLogic Price Performance

Shares of QUIK opened at $11.30 on Thursday. The firm has a market capitalization of $166.19 million, a PE ratio of -113.00 and a beta of 1.59. 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 company’s fifty day moving average price is $8.14 and its 200-day moving average price is $8.81. QuickLogic Co. has a 1-year low of $6.75 and a 1-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 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 firm had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.20 million. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, equities research analysts predict that QuickLogic Co. will post -0.29 EPS for the current year.

Insider Buying and Selling

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the company’s 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 sale, the vice president now directly owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Brian C. Faith sold 21,402 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $158,160.78. Following the transaction, the chief executive officer now owns 193,584 shares of the company’s stock, valued at $1,430,585.76. The trade was a 9.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 52,117 shares of company stock worth $381,460. 2.49% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on QUIK. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. Craig Hallum dropped their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. StockNews.com upgraded QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Finally, Northland Securities started coverage on QuickLogic in a report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $11.53.

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.