QuickLogic (NASDAQ:QUIK) Upgraded by Zacks Investment Research to “Hold”

Zacks Investment Research upgraded shares of QuickLogic (NASDAQ:QUIK) from a sell rating to a hold rating in a research report sent to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “

Several other equities research analysts also recently weighed in on QUIK. Oppenheimer initiated coverage on shares of QuickLogic in a research note on Wednesday, August 14th. They set an outperform rating and a $1.00 target price for the company. Roth Capital downgraded shares of QuickLogic from a buy rating to a neutral rating in a research note on Wednesday, June 19th. CIBC assumed coverage on shares of QuickLogic in a research report on Thursday, August 15th. They issued an outperform rating for the company. Finally, ValuEngine downgraded shares of QuickLogic from a hold rating to a sell rating in a research report on Thursday, September 5th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company. QuickLogic has a consensus rating of Hold and an average price target of $1.00.

Shares of QUIK traded up $0.02 during mid-day trading on Wednesday, hitting $0.37. 2,100 shares of the company’s stock were exchanged, compared to its average volume of 450,642. QuickLogic has a fifty-two week low of $0.30 and a fifty-two week high of $1.19. The firm has a market capitalization of $40.71 million, a P/E ratio of -2.47 and a beta of 0.38. The business’s 50 day moving average is $0.37 and its two-hundred day moving average is $0.57. The company has a current ratio of 1.86, a quick ratio of 1.68 and a debt-to-equity ratio of 0.08.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Wednesday, August 7th. The semiconductor company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.01). QuickLogic had a negative return on equity of 77.17% and a negative net margin of 120.05%. The business had revenue of $2.09 million for the quarter, compared to analyst estimates of $2.20 million. During the same quarter last year, the company posted ($0.04) EPS. On average, equities research analysts forecast that QuickLogic will post -0.12 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC lifted its position in QuickLogic by 731.1% in the second quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock valued at $38,000 after purchasing an additional 58,438 shares during the period. Wells Fargo & Company MN lifted its position in QuickLogic by 38.4% in the second quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock valued at $85,000 after purchasing an additional 41,219 shares during the period. NJ State Employees Deferred Compensation Plan lifted its position in QuickLogic by 22.7% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the semiconductor company’s stock valued at $155,000 after purchasing an additional 50,000 shares during the period. Worth Venture Partners LLC lifted its position in QuickLogic by 797.2% in the second quarter. Worth Venture Partners LLC now owns 1,131,341 shares of the semiconductor company’s stock valued at $651,000 after purchasing an additional 1,005,247 shares during the period. Finally, Vanguard Group Inc. lifted its position in QuickLogic by 10.2% in the second quarter. Vanguard Group Inc. now owns 4,167,499 shares of the semiconductor company’s stock valued at $2,398,000 after purchasing an additional 385,317 shares during the period. Hedge funds and other institutional investors own 20.13% of the company’s stock.

About QuickLogic

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

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