QuickLogic (NASDAQ:QUIK) Downgraded by Zacks Investment Research to Sell

Share on StockTwits

Zacks Investment Research lowered shares of QuickLogic (NASDAQ:QUIK) from a hold rating to a sell rating in a report released on Friday morning, Zacks.com reports.

According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “

Several other equities analysts have also recently weighed in on QUIK. Oppenheimer cut their price objective on QuickLogic from $14.00 to $1.00 and set an outperform rating on the stock in a report on Monday, January 13th. ValuEngine upgraded shares of QuickLogic from a hold rating to a buy rating in a report on Friday, January 3rd. Finally, Roth Capital lifted their price target on shares of QuickLogic to and gave the company a neutral rating in a research note on Monday, January 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of Hold and an average price target of $7.83.

NASDAQ QUIK opened at $7.59 on Friday. The stock has a fifty day moving average of $3.40 and a 200-day moving average of $1.15. The stock has a market capitalization of $63.17 million, a P/E ratio of -3.39 and a beta of 0.48. QuickLogic has a 52 week low of $2.81 and a 52 week high of $16.66. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.52 and a current ratio of 1.71.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Wednesday, November 6th. The semiconductor company reported ($0.42) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.56) by $0.14. The business had revenue of $2.16 million for the quarter, compared to analyst estimates of $2.10 million. QuickLogic had a negative return on equity of 85.41% and a negative net margin of 144.73%. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. Equities research analysts forecast that QuickLogic will post -1.63 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently made changes to their positions in QUIK. Wells Fargo & Company MN increased its holdings in QuickLogic by 38.4% during the 2nd quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock worth $85,000 after purchasing an additional 41,219 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in QuickLogic by 731.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock valued at $38,000 after acquiring an additional 58,438 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of QuickLogic by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,167,499 shares of the semiconductor company’s stock worth $2,398,000 after acquiring an additional 385,317 shares in the last quarter.

QuickLogic Company Profile

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

See Also: Outstanding Shares, Buying and Selling Stocks

Get a free copy of the Zacks research report on QuickLogic (QUIK)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for QuickLogic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for QuickLogic and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

GAM Holding AG Decreases Holdings in Lear Co.
GAM Holding AG Decreases Holdings in Lear Co.
GAM Holding AG Makes New Investment in FirstEnergy Corp.
GAM Holding AG Makes New Investment in FirstEnergy Corp.
GAM Holding AG Sells 1,916 Shares of Constellation Brands, Inc.
GAM Holding AG Sells 1,916 Shares of Constellation Brands, Inc.
GAM Holding AG Reduces Stock Position in Philip Morris International Inc.
GAM Holding AG Reduces Stock Position in Philip Morris International Inc.
GAM Holding AG Makes New $332,000 Investment in Nordson Co.
GAM Holding AG Makes New $332,000 Investment in Nordson Co.
Cracker Barrel Old Country Store, Inc.  Shares Sold by GAM Holding AG
Cracker Barrel Old Country Store, Inc. Shares Sold by GAM Holding AG


 
© 2006-2020 Zolmax.