QuickLogic (NASDAQ:QUIK) Stock Rating Upgraded by StockNews.com

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

Several other brokerages also recently weighed in on QUIK. Craig Hallum cut their price target on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Oppenheimer reduced their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th.

QuickLogic Trading Up 1.0 %

QuickLogic stock opened at $7.73 on Wednesday. The stock has a 50-day moving average price of $7.88 and a 200 day moving average price of $9.13. The company has a market capitalization of $113.69 million, a price-to-earnings ratio of -77.30 and a beta of 1.59. QuickLogic has a 52 week low of $6.75 and a 52 week 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.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same quarter in the previous year, the firm posted $0.08 earnings per share. Sell-side analysts anticipate that QuickLogic will post -0.29 EPS for the current year.

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the sale, the chief financial officer now directly owns 60,955 shares in the company, valued at $450,457.45. This represents a 12.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,117 shares of company stock valued at $381,460. Corporate insiders own 1.70% of the company’s stock.

Institutional Trading of QuickLogic

Institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates boosted its holdings in 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. Bank of New York Mellon Corp boosted its stake in shares of QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after acquiring an additional 38,273 shares during the last quarter. Rhumbline Advisers purchased a new stake in shares of QuickLogic during the second quarter worth approximately $172,000. Acuitas Investments LLC increased its position in shares of QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 3,400 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in 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 purchasing an additional 3,750 shares during 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.