StockNews.com Upgrades QuickLogic (NASDAQ:QUIK) to Sell

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

QUIK has been the subject of a number of other research reports. Oppenheimer reduced their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Craig Hallum reduced their target price 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 Stock Performance

Shares of NASDAQ QUIK opened at $7.52 on Wednesday. The stock has a market cap of $110.62 million, a price-to-earnings ratio of -70.80 and a beta of 1.56. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75. The company has a 50 day simple moving average of $7.84 and a two-hundred day simple moving average of $9.64. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. The company had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same quarter in the previous year, the company earned $0.08 EPS. As a group, analysts predict that QuickLogic will post 0.08 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Elias Nader sold 4,458 shares of the business’s 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 completion of the sale, the chief financial officer now owns 52,740 shares in the company, valued at approximately $391,330.80. The trade was a 7.79 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $69,500.00. Following the completion of the transaction, the vice president now owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,324 shares of company stock worth $348,635 in the last 90 days. Corporate insiders own 2.49% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Hedge funds have recently made changes to their positions in the business. State Street Corp grew 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 worth $1,522,000 after buying an additional 26,774 shares during the period. 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 worth $1,343,000 after purchasing an additional 58,668 shares in the last quarter. Marshall Wace LLP increased 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 buying an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of QuickLogic by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after buying an additional 38,273 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its position in shares of QuickLogic by 29.9% in the 1st quarter. Acadian Asset Management LLC now owns 63,152 shares of the semiconductor company’s stock worth $1,010,000 after buying an additional 14,520 shares in the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

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.