Sprott Inc. Grows Position in QuickLogic Corporation $QUIK

Sprott Inc. lifted its position in QuickLogic Corporation (NASDAQ:QUIK) by 86.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 28,000 shares of the semiconductor company’s stock after purchasing an additional 13,000 shares during the period. Sprott Inc. owned about 0.18% of QuickLogic worth $143,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in QUIK. Raymond James Financial Inc. bought a new stake in QuickLogic in the 4th quarter worth $2,192,000. 1492 Capital Management LLC purchased a new stake in shares of QuickLogic during the first quarter worth about $784,000. Deutsche Bank AG grew its stake in shares of QuickLogic by 18,802.4% in the fourth quarter. Deutsche Bank AG now owns 71,262 shares of the semiconductor company’s stock worth $805,000 after purchasing an additional 70,885 shares during the last quarter. Connecticut Wealth Management LLC purchased a new position in QuickLogic during the 4th quarter valued at about $364,000. Finally, Skandinaviska Enskilda Banken AB publ raised its position in QuickLogic by 111.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 41,948 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 22,083 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

QUIK has been the topic of several research analyst reports. Oppenheimer reduced their target price on QuickLogic from $13.00 to $11.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 14th. Wall Street Zen downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company’s stock. Based on data from MarketBeat.com, QuickLogic currently has a consensus rating of “Buy” and a consensus target price of $10.87.

QuickLogic Stock Up 2.4%

Shares of NASDAQ:QUIK opened at $5.65 on Friday. QuickLogic Corporation has a 12-month low of $4.26 and a 12-month high of $13.36. The stock has a market capitalization of $92.83 million, a price-to-earnings ratio of -12.02 and a beta of 0.63. The stock has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $5.94. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03.

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.