QuickLogic Corporation $QUIK Shares Purchased by Perkins Capital Management Inc.

Perkins Capital Management Inc. raised its position in QuickLogic Corporation (NASDAQ:QUIK) by 11.2% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 306,706 shares of the semiconductor company’s stock after purchasing an additional 31,000 shares during the period. QuickLogic makes up about 2.7% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 9th biggest holding. Perkins Capital Management Inc. owned about 1.73% of QuickLogic worth $2,877,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake 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 worth $42,000 after buying an additional 4,902 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of QuickLogic during the fourth quarter worth about $84,000. Jane Street Group LLC acquired a new stake in shares of QuickLogic during the first quarter worth about $87,000. Dimensional Fund Advisors LP bought a new position in shares of QuickLogic during the 4th quarter valued at about $102,000. Finally, Stratos Wealth Advisors LLC lifted its holdings in shares of QuickLogic by 55.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 18,235 shares of the semiconductor company’s stock valued at $110,000 after purchasing an additional 6,510 shares in the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other QuickLogic news, Director Michael J. Farese sold 4,800 shares of the company’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 value of $56,208.00. Following the sale, the director owned 30,540 shares in the company, valued at $357,623.40. This represents a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joyce Kim sold 5,500 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.00, for a total value of $110,000.00. Following the completion of the sale, the director directly owned 2,140 shares of the company’s stock, valued at approximately $42,800. The trade was a 71.99% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 57,975 shares of company stock valued at $1,097,858. Company insiders own 3.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on QUIK shares. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Needham & Company LLC began coverage on shares of QuickLogic in a report on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price target for the company. Finally, Lake Street Capital reissued a “buy” rating and set a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.00.

QuickLogic Price Performance

Shares of QUIK opened at $19.97 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $19.13 and its 200 day simple moving average is $12.05. QuickLogic Corporation has a 1-year low of $4.80 and a 1-year high of $24.33. The company has a market cap of $364.05 million, a price-to-earnings ratio of -22.44 and a beta of 1.18.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). The firm had revenue of $5.05 million during the quarter, compared to the consensus estimate of $5.51 million. QuickLogic had a negative net margin of 102.41% and a negative return on equity of 48.97%. On average, research analysts forecast that QuickLogic Corporation will post -0.23 earnings per share for the current fiscal year.

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.