QuickLogic (NASDAQ:QUIK) Downgraded to Market Perform Rating by Northland Securities

Northland Securities lowered shares of QuickLogic (NASDAQ:QUIK) from an outperform rating to a market perform rating in a research note issued to investors on Wednesday, Marketbeat Ratings reports.

QUIK has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d)” rating on shares of QuickLogic in a report on Wednesday, October 8th. Wall Street Zen cut 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 Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $11.30.

QuickLogic Trading Down 5.0%

QUIK traded down $0.31 during trading on Wednesday, hitting $5.91. 236,737 shares of the stock traded hands, compared to its average volume of 208,320. The firm has a market capitalization of $97.08 million, a P/E ratio of -12.57 and a beta of 0.74. QuickLogic has a 12-month low of $4.26 and a 12-month high of $13.36. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.27 and a quick ratio of 1.23. The firm has a 50-day moving average of $6.40 and a 200 day moving average of $6.05.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Tuesday, November 11th. The semiconductor company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.21) by $0.02. The firm had revenue of $2.03 million during the quarter, compared to the consensus estimate of $2.05 million. QuickLogic had a negative net margin of 40.36% and a negative return on equity of 27.35%. Equities research analysts anticipate that QuickLogic will post -0.29 EPS for the current year.

Insider Transactions at QuickLogic

In other news, CFO Elias Nader sold 7,325 shares of the 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 sale, the chief financial officer owned 82,006 shares in the company, valued at $475,634.80. This represents a 8.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Brian C. Faith sold 14,956 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 $86,744.80. Following the sale, the chief executive officer directly owned 228,412 shares of the company’s stock, valued at $1,324,789.60. This trade represents a 6.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 32,836 shares of company stock worth $189,133. Corporate insiders own 1.50% of the company’s stock.

Institutional Trading of QuickLogic

A number of large investors have recently made changes to their positions in QUIK. 1492 Capital Management LLC bought a new position in QuickLogic during the first quarter valued at approximately $784,000. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of 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 buying an additional 22,083 shares during the period. Deutsche Bank AG grew its stake in shares of QuickLogic by 94.2% during the 1st quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 67,110 shares during the period. Nuveen LLC purchased a new stake in QuickLogic during the first quarter valued at approximately $95,000. Finally, Sprott Inc. raised its position in QuickLogic by 86.7% in the first quarter. Sprott Inc. now owns 28,000 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13,000 shares during the period. 31.54% of the stock is currently owned by institutional investors.

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.