1492 Capital Management LLC Buys New Stake in QuickLogic Corporation (NASDAQ:QUIK)

1492 Capital Management LLC bought a new stake in shares of QuickLogic Corporation (NASDAQ:QUIK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 153,492 shares of the semiconductor company's stock, valued at approximately $784,000. 1492 Capital Management LLC owned 0.97% of QuickLogic as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Herald Investment Management Ltd boosted its holdings in QuickLogic by 46.1% during the fourth quarter. Herald Investment Management Ltd now owns 730,379 shares of the semiconductor company's stock valued at $8,231,000 after purchasing an additional 230,379 shares in the last quarter. Raymond James Financial Inc. bought a new stake in shares of QuickLogic in the 4th quarter valued at $2,192,000. Deutsche Bank AG lifted its holdings in shares of QuickLogic by 18,802.4% during the 4th quarter. Deutsche Bank AG now owns 71,262 shares of the semiconductor company's stock valued at $805,000 after purchasing an additional 70,885 shares in the last quarter. Connecticut Wealth Management LLC acquired a new stake in QuickLogic in the 4th quarter valued at approximately $364,000. Finally, XTX Topco Ltd bought a new position in QuickLogic in the fourth quarter valued at approximately $141,000. Institutional investors and hedge funds own 31.54% of the company's stock.

Analysts Set New Price Targets

QUIK has been the subject of a number of recent analyst reports. Oppenheimer cut their price objective on QuickLogic from $13.00 to $11.00 and set an "outperform" rating for the company in a research report on Wednesday, May 14th. Wall Street Zen upgraded shares of QuickLogic from a "sell" rating to a "hold" rating in a report on Saturday, June 14th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, QuickLogic currently has a consensus rating of "Buy" and a consensus price target of $10.87.

QuickLogic Trading Down 3.6%

QUIK traded down $0.23 during trading on Friday, hitting $6.21. 116,485 shares of the stock traded hands, compared to its average volume of 204,319. The firm has a 50-day moving average of $5.94 and a 200 day moving average of $6.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.18 and a quick ratio of 1.14. The firm has a market capitalization of $98.37 million, a P/E ratio of -15.15 and a beta of 0.71. QuickLogic Corporation has a 12-month low of $4.26 and a 12-month high of $13.36.

QuickLogic 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.