QuickLogic (NASDAQ:QUIK) Upgraded to Hold at Wall Street Zen

Wall Street Zen upgraded shares of QuickLogic (NASDAQ:QUIK) from a sell rating to a hold rating in a research note published on Saturday morning.

QUIK has been the topic of several other research reports. Lake Street Capital reissued a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a research report on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, QuickLogic presently has an average rating of “Hold” and an average target price of $22.00.

QuickLogic Stock Performance

NASDAQ:QUIK opened at $19.10 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.09. QuickLogic has a 1 year low of $4.80 and a 1 year high of $22.69. The stock’s 50 day simple moving average is $12.25 and its two-hundred day simple moving average is $8.85. The company has a market cap of $348.19 million, a price-to-earnings ratio of -21.46 and a beta of 1.11.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%.The firm had revenue of $5.05 million during the quarter, compared to the consensus estimate of $5.51 million. As a group, equities analysts anticipate that QuickLogic will post -0.2 earnings per share for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other news, Director Michael J. Farese sold 4,800 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $11.71, for a total transaction of $56,208.00. Following the transaction, the director owned 30,540 shares of the company’s stock, valued at approximately $357,623.40. The trade was a 13.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 14,670 shares of company stock worth $153,937. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Large investors have recently bought and sold shares of the business. Tower Research Capital LLC TRC boosted its holdings in QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 4,902 shares during the period. Stratos Wealth Advisors LLC purchased a new position in QuickLogic during the 3rd quarter valued at $71,000. Cetera Investment Advisers purchased a new position in QuickLogic during the 1st quarter valued at $111,000. SEB Asset Management AB purchased a new position in QuickLogic during the 1st quarter valued at $129,000. Finally, Squarepoint Ops LLC purchased a new position in QuickLogic during the 4th quarter valued at $84,000. Hedge funds and other institutional investors own 31.54% of the company’s stock.

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.