QuickLogic Co. (NASDAQ:QUIK) Holdings Lowered by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in QuickLogic Co. (NASDAQ:QUIK) by 35.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,283 shares of the semiconductor company’s stock after selling 19,618 shares during the period. Bank of New York Mellon Corp’s holdings in QuickLogic were worth $399,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in QUIK. Crews Bank & Trust acquired a new position in shares of QuickLogic during the 4th quarter valued at $28,000. Quest Partners LLC lifted its holdings in shares of QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 10,743 shares during the period. Barclays PLC boosted its stake in QuickLogic by 34.8% during the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock valued at $150,000 after buying an additional 5,079 shares in the last quarter. Finally, State Street Corp grew its holdings 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 acquiring an additional 26,774 shares during the period. Institutional investors and hedge funds own 31.54% of the company’s stock.

QuickLogic Price Performance

QUIK stock opened at $5.35 on Friday. The firm has a 50-day moving average of $7.08 and a two-hundred day moving average of $7.86. The firm has a market capitalization of $83.10 million, a PE ratio of -53.50 and a beta of 1.36. 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 Co. has a one year low of $5.27 and a one year high of $16.42.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Northland Securities assumed coverage on shares of QuickLogic in a report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 price target for the company. StockNews.com raised shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.53.

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.