Y Intercept Hong Kong Ltd Acquires New Stake in QuickLogic Corporation $QUIK

Y Intercept Hong Kong Ltd bought a new position in shares of QuickLogic Corporation (NASDAQ:QUIK) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 24,138 shares of the semiconductor company’s stock, valued at approximately $149,000. Y Intercept Hong Kong Ltd owned approximately 0.15% of QuickLogic as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in QUIK. Deutsche Bank AG grew its holdings in shares of QuickLogic by 94.2% during the first quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company’s stock worth $707,000 after purchasing an additional 67,110 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in QuickLogic in the second quarter valued at approximately $66,000. Vident Advisory LLC bought a new stake in QuickLogic during the first quarter valued at approximately $109,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of QuickLogic by 111.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 41,948 shares of the semiconductor company’s stock worth $214,000 after buying an additional 22,083 shares during the last quarter. Finally, 1492 Capital Management LLC purchased a new stake in shares of QuickLogic during the 1st quarter valued at $784,000. 31.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

QUIK has been the subject of several research reports. Wall Street Zen lowered shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Weiss Ratings reiterated a “sell (d)” rating on shares of QuickLogic in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, QuickLogic currently has a consensus rating of “Moderate Buy” and an average price target of $10.87.

Insiders Place Their Bets

In related news, VP Timothy Saxe sold 9,155 shares of the business’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $53,099.00. Following the sale, the vice president owned 125,916 shares of the company’s stock, valued at $730,312.80. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Elias Nader sold 7,325 shares of the firm’s 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 transaction, the chief financial officer directly owned 82,006 shares of the company’s stock, valued at $475,634.80. This represents a 8.20% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 32,836 shares of company stock worth $189,133. 1.50% of the stock is owned by corporate insiders.

QuickLogic Price Performance

Shares of NASDAQ:QUIK opened at $7.15 on Monday. The stock has a market cap of $117.45 million, a PE ratio of -15.21 and a beta of 0.74. The company’s fifty day moving average is $6.29 and its 200 day moving average is $6.02. QuickLogic Corporation has a 52 week low of $4.26 and a 52 week high of $13.36. 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 Company Profile

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.