QuickLogic (QUIK) Shares Up 10.8%

QuickLogic Co. (NASDAQ:QUIK) shot up 10.8% during mid-day trading on Monday . The company traded as high as $1.75 and last traded at $1.75. 576,515 shares were traded during trading, an increase of 135% from the average session volume of 245,037 shares. The stock had previously closed at $1.58.

A number of brokerages have recently issued reports on QUIK. ValuEngine cut QuickLogic from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. Roth Capital reiterated a “buy” rating and issued a $2.50 price target (up from $2.00) on shares of QuickLogic in a research report on Friday, January 19th.

The company has a current ratio of 1.96, a quick ratio of 1.59 and a debt-to-equity ratio of 0.02. The stock has a market cap of $141.18 million, a price-to-earnings ratio of -9.22 and a beta of 0.38.



QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Wednesday, May 9th. The semiconductor company reported ($0.04) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.04). QuickLogic had a negative net margin of 123.78% and a negative return on equity of 89.49%. The company had revenue of $2.76 million during the quarter, compared to the consensus estimate of $3.00 million. During the same period in the previous year, the business earned ($0.05) earnings per share. equities research analysts expect that QuickLogic Co. will post -0.12 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its position in QuickLogic by 87.0% during the fourth quarter. Private Advisor Group LLC now owns 63,065 shares of the semiconductor company’s stock valued at $120,000 after purchasing an additional 29,342 shares in the last quarter. Wells Fargo & Company MN raised its position in QuickLogic by 185.7% during the fourth quarter. Wells Fargo & Company MN now owns 78,171 shares of the semiconductor company’s stock valued at $136,000 after purchasing an additional 50,813 shares in the last quarter. First Mercantile Trust Co. raised its position in QuickLogic by 92.6% during the first quarter. First Mercantile Trust Co. now owns 104,579 shares of the semiconductor company’s stock valued at $159,000 after purchasing an additional 50,276 shares in the last quarter. Paulson Wealth Management Inc. raised its position in QuickLogic by 766.3% during the first quarter. Paulson Wealth Management Inc. now owns 225,246 shares of the semiconductor company’s stock valued at $342,000 after purchasing an additional 199,246 shares in the last quarter. Finally, Firsthand Capital Management Inc. raised its position in QuickLogic by 9.1% during the fourth quarter. Firsthand Capital Management Inc. now owns 1,200,000 shares of the semiconductor company’s stock valued at $2,088,000 after purchasing an additional 100,000 shares in the last quarter. Institutional investors own 23.10% of the company’s stock.

About QuickLogic

QuickLogic Corporation, a semiconductor company, designs, markets, and supports silicon solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. The company also provides Field Programmable Gate Arrays (FPGAs), software drivers, and associated design software and programming hardware, as well as eFPGA intellectual property (IP), such as ArcticPro and ArcticPro 2.

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