Zacks Investment Research upgraded shares of QuickLogic (NASDAQ:QUIK) from a sell rating to a hold rating in a report published on Thursday morning.
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. “
Separately, ValuEngine raised QuickLogic from a sell rating to a hold rating in a research note on Saturday, December 1st.
Shares of NASDAQ:QUIK traded down $0.02 during trading on Thursday, reaching $0.75. The stock had a trading volume of 2,800 shares, compared to its average volume of 149,856. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.39 and a quick ratio of 2.07. The firm has a market capitalization of $79.00 million, a PE ratio of -4.19 and a beta of -0.09. QuickLogic has a 1-year low of $0.75 and a 1-year high of $2.22.
QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Wednesday, November 7th. The semiconductor company reported ($0.03) earnings per share for the quarter, hitting the Zacks’ consensus estimate of ($0.03). The company had revenue of $3.51 million for the quarter, compared to analyst estimates of $3.50 million. QuickLogic had a negative return on equity of 79.85% and a negative net margin of 114.11%. During the same quarter in the previous year, the company posted ($0.04) earnings per share. As a group, analysts expect that QuickLogic will post -0.14 earnings per share for the current year.
Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc lifted its stake in shares of QuickLogic by 0.4% in the 3rd quarter. Vanguard Group Inc now owns 3,223,167 shares of the semiconductor company’s stock valued at $3,223,000 after purchasing an additional 12,901 shares during the last quarter. Worth Venture Partners LLC acquired a new position in shares of QuickLogic in the 3rd quarter valued at $230,000. Bridgeway Capital Management Inc. raised its holdings in shares of QuickLogic by 124.0% in the 3rd quarter. Bridgeway Capital Management Inc. now owns 234,800 shares of the semiconductor company’s stock valued at $235,000 after buying an additional 130,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of QuickLogic by 16.4% in the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 387,184 shares of the semiconductor company’s stock valued at $387,000 after buying an additional 54,465 shares during the period. Finally, Strategic Wealth Advisors Group LLC purchased a new stake in shares of QuickLogic in the 3rd quarter valued at $264,000. 23.50% of the stock is currently owned by institutional investors and hedge funds.
QuickLogic Company Profile
QuickLogic Corporation, a semiconductor company, designs, markets, and supports silicon solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. The company also provides Field Programmable Gate Arrays (FPGAs), software drivers, and associated design software and programming hardware, as well as eFPGA intellectual property (IP), such as ArcticPro and ArcticPro 2.
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