QuickLogic (NASDAQ:QUIK) Cut to “Market Perform” at Northland Securities

QuickLogic (NASDAQ:QUIK) was downgraded by research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report issued on Wednesday, Marketbeat reports.

QUIK has been the subject of a number of other reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of QuickLogic in a research note on Wednesday, October 8th. Wall Street Zen downgraded QuickLogic from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $11.30.

QuickLogic Trading Down 0.8%

Shares of NASDAQ:QUIK opened at $7.17 on Wednesday. The firm has a fifty day moving average of $6.38 and a two-hundred day moving average of $6.05. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.03. QuickLogic has a 12-month low of $4.26 and a 12-month high of $13.36. The firm has a market capitalization of $117.78 million, a P/E ratio of -15.25 and a beta of 0.74.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Tuesday, November 11th. The semiconductor company reported ($0.24) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.21) by ($0.03). QuickLogic had a negative return on equity of 27.35% and a negative net margin of 40.36%. On average, equities analysts expect that QuickLogic will post -0.29 EPS for the current fiscal year.

Insider Activity at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 9,155 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $53,099.00. Following the completion of the sale, the vice president owned 125,916 shares of the company’s stock, valued at $730,312.80. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elias Nader sold 7,325 shares of QuickLogic stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $42,485.00. Following the completion of the transaction, the chief financial officer directly owned 82,006 shares in the company, valued at approximately $475,634.80. This represents a 8.20% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 32,836 shares of company stock valued at $189,133. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of QuickLogic

Several large investors have recently modified their holdings of the company. Tower Research Capital LLC TRC grew its stake in QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 4,902 shares during the last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in QuickLogic during the second quarter valued at about $66,000. Stratos Wealth Advisors LLC bought a new stake in QuickLogic during the third quarter valued at about $71,000. Jane Street Group LLC acquired a new stake in shares of QuickLogic in the first quarter valued at about $87,000. Finally, Nuveen LLC bought a new position in shares of QuickLogic in the first quarter worth about $95,000. 31.54% of the stock is owned by institutional investors.

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.