Perkins Capital Management Inc. Buys 31,000 Shares of QuickLogic Corporation $QUIK

Perkins Capital Management Inc. grew its stake in QuickLogic Corporation (NASDAQ:QUIK) by 11.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 306,706 shares of the semiconductor company’s stock after purchasing an additional 31,000 shares during the quarter. QuickLogic makes up approximately 2.7% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Perkins Capital Management Inc.’s holdings in QuickLogic were worth $2,877,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Tower Research Capital LLC TRC boosted its holdings in shares of QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after buying an additional 4,902 shares during the period. Squarepoint Ops LLC bought a new position in QuickLogic in the 4th quarter valued at about $84,000. Jane Street Group LLC bought a new position in QuickLogic in the 1st quarter valued at about $87,000. Dimensional Fund Advisors LP acquired a new stake in QuickLogic during the fourth quarter worth approximately $102,000. Finally, Stratos Wealth Advisors LLC lifted its position in QuickLogic by 55.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 18,235 shares of the semiconductor company’s stock worth $110,000 after acquiring an additional 6,510 shares during the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on QUIK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Needham & Company LLC assumed coverage on QuickLogic in a research report on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price target on the stock. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, QuickLogic currently has a consensus rating of “Hold” and an average target price of $22.00.

Insiders Place Their Bets

In related news, CEO Brian C. Faith sold 41,480 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total value of $848,266.00. Following the sale, the chief executive officer directly owned 228,412 shares of the company’s stock, valued at $4,671,025.40. This trade represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Michael J. Farese sold 4,800 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $11.71, for a total value of $56,208.00. Following the completion of the sale, the director directly owned 30,540 shares in the company, valued at $357,623.40. This trade represents a 13.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 57,975 shares of company stock valued at $1,097,858 in the last quarter. Corporate insiders own 3.20% of the company’s stock.

QuickLogic Stock Performance

Shares of NASDAQ:QUIK opened at $19.97 on Wednesday. The company’s 50 day simple moving average is $19.13 and its 200 day simple moving average is $12.05. The stock has a market capitalization of $364.05 million, a price-to-earnings ratio of -22.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.53. QuickLogic Corporation has a 1 year low of $4.80 and a 1 year high of $24.33.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%.The business had revenue of $5.05 million for the quarter, compared to the consensus estimate of $5.51 million. As a group, research analysts predict that QuickLogic Corporation will post -0.23 EPS for the current fiscal year.

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.