QuickLogic Co. (NASDAQ:QUIK)’s share price was down 8.3% on Friday . The stock traded as low as $0.30 and last traded at $0.33, approximately 2,036,600 shares were traded during trading. An increase of 469% from the average daily volume of 358,235 shares. The stock had previously closed at $0.36.
Several analysts have weighed in on QUIK shares. CIBC started coverage on shares of QuickLogic in a research note on Thursday, August 15th. They set an “outperform” rating on the stock. Zacks Investment Research cut shares of QuickLogic from a “buy” rating to a “sell” rating in a research note on Tuesday, August 13th. Oppenheimer assumed coverage on shares of QuickLogic in a research note on Wednesday, August 14th. They set an “outperform” rating and a $1.00 price objective on the stock. Roth Capital cut shares of QuickLogic from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 19th. Finally, ValuEngine cut shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $1.00.
The company has a debt-to-equity ratio of 0.08, a current ratio of 1.86 and a quick ratio of 1.68. The company’s 50 day moving average price is $0.41 and its 200 day moving average price is $0.62. The firm has a market capitalization of $42.05 million, a P/E ratio of -2.20 and a beta of 0.42.
QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Wednesday, August 7th. The semiconductor company reported ($0.05) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.01). QuickLogic had a negative net margin of 120.05% and a negative return on equity of 77.17%. The company had revenue of $2.09 million for the quarter, compared to the consensus estimate of $2.20 million. During the same period last year, the company earned ($0.04) earnings per share. On average, research analysts anticipate that QuickLogic Co. will post -0.12 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. AWM Investment Company Inc. grew its stake in shares of QuickLogic by 124.0% during 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 purchasing an additional 3,000,000 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 valued at $2,398,000 after purchasing an additional 385,317 shares during the last quarter. 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. Intel Corp acquired a new position in QuickLogic in the first quarter valued at approximately $218,000. Finally, NJ State Employees Deferred Compensation Plan lifted its holdings in QuickLogic by 22.7% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the semiconductor company’s stock valued at $155,000 after buying an additional 50,000 shares during the period. 20.13% of the stock is currently owned by institutional investors and hedge funds.
QuickLogic Company Profile (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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