QuickLogic (NASDAQ:QUIK) Shares Down 5%

QuickLogic Co. (NASDAQ:QUIK)’s stock price fell 5% on Friday . The company traded as low as $0.39 and last traded at $0.38, 8,986 shares traded hands during mid-day trading. A decline of 98% from the average session volume of 585,455 shares. The stock had previously closed at $0.40.

A number of brokerages recently issued reports on QUIK. ValuEngine downgraded QuickLogic from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Zacks Investment Research upgraded QuickLogic from a “sell” rating to a “hold” rating in a research report on Wednesday, October 9th. Finally, CIBC started coverage on QuickLogic in a research report on Thursday, August 15th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. QuickLogic currently has an average rating of “Hold” and a consensus target price of $1.00.

The company has a current ratio of 1.71, a quick ratio of 1.52 and a debt-to-equity ratio of 0.09. The firm has a fifty day moving average price of $0.31 and a 200 day moving average price of $0.44. The firm has a market cap of $46.62 million, a PE ratio of -2.47 and a beta of 0.27.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Wednesday, November 6th. The semiconductor company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.01. QuickLogic had a negative return on equity of 85.41% and a negative net margin of 144.73%. The firm had revenue of $2.16 million during the quarter, compared to analysts’ expectations of $2.10 million. During the same quarter in the previous year, the business earned ($0.03) earnings per share. As a group, equities analysts predict that QuickLogic Co. will post -0.12 earnings per share for the current year.

Several large investors have recently modified their holdings of the company. Wells Fargo & Company MN boosted its position in QuickLogic by 38.4% in the second quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock valued at $85,000 after buying an additional 41,219 shares in the last quarter. AWM Investment Company Inc. increased its stake in QuickLogic by 124.0% in the second quarter. AWM Investment Company Inc. now owns 5,419,435 shares of the semiconductor company’s stock valued at $3,119,000 after acquiring an additional 3,000,000 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in shares of QuickLogic by 731.1% during the second quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock worth $38,000 after buying an additional 58,438 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of QuickLogic by 10.2% during the second quarter. Vanguard Group Inc. now owns 4,167,499 shares of the semiconductor company’s stock worth $2,398,000 after buying an additional 385,317 shares during the last quarter. Finally, Worth Venture Partners LLC lifted its holdings in QuickLogic by 797.2% in the second quarter. Worth Venture Partners LLC now owns 1,131,341 shares of the semiconductor company’s stock valued at $651,000 after buying an additional 1,005,247 shares during the period. Institutional investors and hedge funds own 19.03% of the company’s stock.

About QuickLogic (NASDAQ:QUIK)

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.

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