QuickLogic (NASDAQ:QUIK) Now Covered by StockNews.com

StockNews.com initiated coverage on shares of QuickLogic (NASDAQ:QUIKGet Rating) in a note issued to investors on Wednesday. The firm set a “hold” rating on the semiconductor company’s stock.

Separately, Zacks Investment Research downgraded QuickLogic from a “buy” rating to a “hold” rating in a research note on Wednesday, April 20th.

Shares of QuickLogic stock opened at $4.90 on Wednesday. QuickLogic has a one year low of $4.25 and a one year high of $8.00. The stock has a market cap of $60.57 million, a price-to-earnings ratio of -8.60 and a beta of 2.28. The stock has a 50 day moving average price of $5.15 and a 200-day moving average price of $5.40.

QuickLogic (NASDAQ:QUIKGet Rating) last announced its earnings results on Wednesday, February 16th. The semiconductor company reported ($0.13) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.01. QuickLogic had a negative return on equity of 68.80% and a negative net margin of 52.16%. The firm had revenue of $3.71 million for the quarter, compared to the consensus estimate of $3.90 million. During the same period in the previous year, the business earned ($0.26) EPS. Equities analysts expect that QuickLogic will post -0.24 EPS for the current year.

In other QuickLogic news, CEO Brian C. Faith sold 9,156 shares of the business’s stock in a transaction dated Friday, April 22nd. The stock was sold at an average price of $4.85, for a total transaction of $44,406.60. Following the sale, the chief executive officer now owns 125,819 shares in the company, valued at approximately $610,222.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Timothy Saxe sold 21,409 shares of the business’s stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $4.36, for a total value of $93,343.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 71,735 shares of company stock worth $317,251. 2.88% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Taylor Frigon Capital Management LLC lifted its holdings in shares of QuickLogic by 11.9% in the 4th quarter. Taylor Frigon Capital Management LLC now owns 720,488 shares of the semiconductor company’s stock valued at $3,682,000 after buying an additional 76,666 shares during the period. BlackRock Inc. lifted its holdings in shares of QuickLogic by 27.7% in the 3rd quarter. BlackRock Inc. now owns 133,380 shares of the semiconductor company’s stock valued at $715,000 after buying an additional 28,964 shares during the period. Advisor Group Holdings Inc. lifted its holdings in shares of QuickLogic by 10.6% in the 3rd quarter. Advisor Group Holdings Inc. now owns 36,528 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 3,508 shares during the period. Millennium Management LLC acquired a new position in shares of QuickLogic in the 2nd quarter valued at about $110,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of QuickLogic by 504.9% in the 4th quarter. JPMorgan Chase & Co. now owns 21,173 shares of the semiconductor company’s stock valued at $108,000 after buying an additional 17,673 shares during the period. 21.76% of the stock is owned by institutional investors and hedge funds.

QuickLogic Company Profile (Get Rating)

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable, hearable, tablets, and the Internet-of-Things devices. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low power field programmable gate arrays (FPGAs); and analytics toolkit, an end-to-end software suite that offers processes for developing pattern matching sensor algorithms using machine learning technology, as well as programming hardware and design software solutions.

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