QuickLogic (NASDAQ:QUIK) Rating Increased to Sell at StockNews.com

StockNews.com upgraded shares of QuickLogic (NASDAQ:QUIK) to a sell rating in a report published on Wednesday.

A number of other research firms have also weighed in on QUIK. Oppenheimer reduced their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Craig Hallum reduced their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th.

QuickLogic Price Performance

QuickLogic stock opened at $7.08 on Wednesday. QuickLogic has a 12-month low of $6.75 and a 12-month high of $20.75. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The firm has a 50-day moving average price of $7.85 and a 200-day moving average price of $9.65. The firm has a market capitalization of $104.13 million, a PE ratio of -70.80 and a beta of 1.56.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.20 million. During the same period in the previous year, the business earned $0.08 EPS. As a group, equities research analysts forecast that QuickLogic will post 0.08 EPS for the current year.

Insider Activity

In related news, CEO Brian C. Faith sold 27,866 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total transaction of $246,056.78. Following the sale, the chief executive officer now owns 215,849 shares of the company’s stock, valued at $1,905,946.67. This trade represents a 11.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,324 shares of company stock worth $348,635. 2.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of QUIK. Barclays PLC boosted its stake in QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 5,079 shares in the last quarter. State Street Corp lifted its holdings in shares of QuickLogic by 15.6% during the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after purchasing an additional 26,774 shares during the last quarter. Quest Partners LLC boosted its position in shares of QuickLogic by 5,067.5% in the 3rd 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. Cutter & CO Brokerage Inc. purchased a new position in QuickLogic during the 3rd quarter worth $106,000. Finally, Squarepoint Ops LLC increased its position in QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after buying an additional 36,409 shares in the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.

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.