Bank of America Corp DE Acquires 3,773 Shares of QuickLogic Co. (NASDAQ:QUIK)

Bank of America Corp DE boosted its stake in QuickLogic Co. (NASDAQ:QUIK) by 40.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,091 shares of the semiconductor company’s stock after purchasing an additional 3,773 shares during the period. Bank of America Corp DE owned about 0.09% of QuickLogic worth $148,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in QUIK. Herald Investment Management Ltd boosted its holdings in QuickLogic by 46.1% in the fourth quarter. Herald Investment Management Ltd now owns 730,379 shares of the semiconductor company’s stock worth $8,231,000 after acquiring an additional 230,379 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of QuickLogic in the fourth quarter worth $2,192,000. Sprott Inc. purchased a new position in shares of QuickLogic in the fourth quarter worth $170,000. XTX Topco Ltd purchased a new position in shares of QuickLogic in the fourth quarter worth $141,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of QuickLogic by 68.3% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 19,865 shares of the semiconductor company’s stock worth $233,000 after purchasing an additional 8,063 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on QUIK shares. Oppenheimer decreased their price target on QuickLogic from $13.00 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday, May 14th. Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday. One analyst has rated the stock with a hold 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 company presently has a consensus rating of “Buy” and an average price target of $10.87.

QuickLogic Stock Up 4.2%

NASDAQ QUIK opened at $5.92 on Tuesday. The stock’s 50-day moving average price is $5.46 and its 200-day moving average price is $6.87. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. QuickLogic Co. has a 52 week low of $4.26 and a 52 week high of $13.36. The company has a market capitalization of $93.75 million, a P/E ratio of -59.20 and a beta of 0.65.

QuickLogic Company Profile

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.