Oppenheimer Cuts QuickLogic (NASDAQ:QUIK) Price Target to $11.00

QuickLogic (NASDAQ:QUIK) had its price target decreased by Oppenheimer from $13.00 to $11.00 in a research note published on Wednesday,Benzinga reports. Oppenheimer currently has an outperform rating on the semiconductor company’s stock.

Separately, StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research report on Tuesday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $10.87.

QuickLogic Trading Down 4.0%

Shares of NASDAQ:QUIK opened at $5.76 on Wednesday. QuickLogic has a 52-week low of $4.26 and a 52-week high of $13.74. The company has a market capitalization of $91.00 million, a P/E ratio of -57.60 and a beta of 0.71. The company has a 50-day simple moving average of $5.40 and a 200 day simple moving average of $7.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12.

Institutional Investors Weigh In On QuickLogic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Crews Bank & Trust acquired a new stake in shares of QuickLogic in the fourth quarter valued at approximately $28,000. GAMMA Investing LLC raised its position in shares of QuickLogic by 5,920.0% in the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 6,216 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of QuickLogic by 49.4% in the fourth quarter. Wells Fargo & Company MN now owns 6,645 shares of the semiconductor company’s stock valued at $75,000 after buying an additional 2,197 shares in the last quarter. Nuveen LLC bought a new position in QuickLogic in the first quarter valued at approximately $95,000. Finally, Vident Advisory LLC acquired a new position in QuickLogic during the first quarter valued at approximately $109,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.