Royal Bank of Canada Acquires 345,762 Shares of QuickLogic Corporation $QUIK

Key Points

• Royal Bank of Canada increased its QuickLogic stake by 14,694.5% in the first quarter, acquiring 345,762 additional shares and ending with 348,115 shares worth approximately $3.27 million. Institutional investors collectively own 31.54% of the company.
• Analyst sentiment is mixed: QuickLogic has a consensus “Hold” rating and a $21 target price, with ratings ranging from Buy to Sell. Needham cut its target to $20, while Lake Street raised its target to $22.
• QuickLogic reported weaker-than-expected quarterly results, posting a loss of $0.06 per share versus a $0.04 expected loss and revenue of $5.48 million against a $6 million estimate. Insiders have also sold 49,175 shares worth about $1 million over the past 90 days.

Royal Bank of Canada raised its holdings in shares of QuickLogic Corporation (NASDAQ:QUIK - Free Report) by 14,694.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 348,115 shares of the semiconductor company's stock after buying an additional 345,762 shares during the period. Royal Bank of Canada owned about 1.91% of QuickLogic worth $3,266,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its holdings in shares of QuickLogic by 246.5% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock worth $42,000 after buying an additional 4,902 shares during the period. Cetera Investment Advisers purchased a new stake in QuickLogic during the 1st quarter valued at about $111,000. SEB Asset Management AB purchased a new stake in QuickLogic during the 1st quarter valued at about $129,000. Squarepoint Ops LLC bought a new position in QuickLogic during the 4th quarter worth approximately $84,000. Finally, OMERS ADMINISTRATION Corp bought a new position in QuickLogic during the 1st quarter worth approximately $151,000. 31.54% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Brian C. Faith sold 41,480 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total value of $848,266.00. Following the completion of the transaction, the chief executive officer directly owned 228,412 shares of the company's stock, valued at $4,671,025.40. This represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gary H. Tauss sold 2,195 shares of the firm's stock in a transaction dated Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the completion of the sale, the director owned 15,908 shares of the company's stock, valued at $305,433.60. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 49,175 shares of company stock valued at $1,000,410. Corporate insiders own 3.20% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on QUIK shares. Lake Street Capital reiterated a "buy" rating and issued a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of QuickLogic in a research note on Wednesday, June 24th. Needham & Company LLC lowered their price target on shares of QuickLogic from $22.00 to $20.00 and set a "buy" rating for the company in a report on Wednesday. Finally, Wall Street Zen raised shares of QuickLogic from a "sell" rating to a "hold" rating in a research report on Saturday, May 16th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $21.00.

QuickLogic Price Performance

Shares of QuickLogic stock opened at $12.76 on Friday. The business has a 50 day moving average of $16.21 and a 200 day moving average of $13.64. QuickLogic Corporation has a 52 week low of $4.80 and a 52 week high of $24.33. The company has a market cap of $232.61 million, a PE ratio of -16.57 and a beta of 1.24. The company has a quick ratio of 1.53, a current ratio of 2.15 and a debt-to-equity ratio of 0.03.

QuickLogic (NASDAQ:QUIK - Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. The company had revenue of $5.48 million during the quarter, compared to the consensus estimate of $6.00 million. As a group, equities research analysts forecast that QuickLogic Corporation will post -0.23 earnings per share 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.

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