QuickLogic (NASDAQ:QUIK) Upgraded to “Sell” at StockNews.com

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

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

QuickLogic Price Performance

NASDAQ QUIK opened at $7.52 on Wednesday. QuickLogic has a 12 month low of $6.75 and a 12 month high of $20.75. The firm has a market capitalization of $110.62 million, a PE ratio of -70.80 and a beta of 1.56. The company’s 50 day simple moving average is $7.84 and its 200 day simple moving average is $9.64. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05.

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

Insider Buying and Selling

In other news, CFO Elias Nader sold 4,458 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was 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. This represents a 7.79 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the transaction, the vice president now directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 42,324 shares of company stock worth $348,635. Corporate insiders own 2.49% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Quest Partners LLC boosted its stake in QuickLogic by 5,067.5% during the 3rd quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after purchasing an additional 10,743 shares during the period. Acuitas Investments LLC grew its position in 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 buying an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. acquired a new position in QuickLogic in the 3rd quarter valued at approximately $106,000. XTX Topco Ltd bought a new stake in shares of QuickLogic during the second quarter valued at approximately $127,000. Finally, Barclays PLC lifted its position in QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the period. Institutional investors 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.