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

QuickLogic (NASDAQ:QUIK) was upgraded by analysts at StockNews.com to a “sell” rating in a report released on Wednesday.

A number of other equities research analysts have also recently issued reports on QUIK. Craig Hallum decreased their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Oppenheimer lowered their price objective on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th.

QuickLogic Stock Up 0.4 %

Shares of QUIK traded up $0.03 during mid-day trading on Wednesday, reaching $7.08. The company’s stock had a trading volume of 174,367 shares, compared to its average volume of 229,541. QuickLogic has a 1 year low of $6.75 and a 1 year high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The company has a market cap of $104.13 million, a price-to-earnings ratio of -70.80 and a beta of 1.56. The business has a fifty day moving average of $7.85 and a 200 day moving average of $9.65.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (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 forecast that QuickLogic will post 0.08 earnings per share for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction on 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 sale, the vice president now owns 108,004 shares in the company, valued at $750,627.80. The trade was a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brian C. Faith sold 27,866 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total value of $246,056.78. Following the sale, the chief executive officer now directly owns 215,849 shares of the company’s stock, valued at $1,905,946.67. This represents a 11.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,324 shares of company stock worth $348,635 over the last three months. Company insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. 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 during the period. Acuitas Investments LLC increased its position in shares of QuickLogic by 54.0% in the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new stake in QuickLogic during the 3rd quarter worth $106,000. XTX Topco Ltd bought a new position in QuickLogic during the second quarter worth about $127,000. Finally, Barclays PLC grew 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 during the period. 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.