QuickLogic Corporation (NASDAQ:QUIK) Sees Large Growth in Short Interest

QuickLogic Corporation (NASDAQ:QUIK) was the target of a significant growth in short interest during the month of February. As of February 27th, there was short interest totaling 1,129,495 shares, a growth of 17.0% from the February 12th total of 965,127 shares. Approximately 6.7% of the company’s shares are short sold. Based on an average daily volume of 223,861 shares, the days-to-cover ratio is currently 5.0 days. Based on an average daily volume of 223,861 shares, the days-to-cover ratio is currently 5.0 days. Approximately 6.7% of the company’s shares are short sold.

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its stake in 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 purchasing an additional 4,902 shares in the last quarter. Stratos Wealth Advisors LLC acquired a new stake in QuickLogic during the 3rd quarter worth approximately $71,000. Squarepoint Ops LLC bought a new position in QuickLogic in the fourth quarter valued at approximately $84,000. Jane Street Group LLC bought a new position in QuickLogic in the first quarter valued at approximately $87,000. Finally, Prospera Financial Services Inc acquired a new position in shares of QuickLogic in the second quarter valued at approximately $96,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

QUIK has been the topic of a number of recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Lake Street Capital started coverage on QuickLogic in a research note on Monday, February 9th. They issued a “buy” rating and a $10.00 price target for the company. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $10.50.

QuickLogic Price Performance

QUIK opened at $9.25 on Thursday. The stock has a market cap of $158.08 million, a P/E ratio of -10.28 and a beta of 0.60. QuickLogic has a 12 month low of $4.26 and a 12 month high of $10.14. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. The company has a fifty day simple moving average of $8.02 and a 200 day simple moving average of $6.89.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 45.83% and a negative net margin of 107.70%.The business had revenue of $3.73 million for the quarter, compared to the consensus estimate of $3.50 million. On average, research analysts expect that QuickLogic will post -0.29 EPS for the current 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.