QuickLogic (NASDAQ:QUIK) Cut to "Sell" at Wall Street Zen

Key Points

• QuickLogic has been downgraded by Wall Street Zen from a "hold" to a "sell" rating as of Saturday.
• Oppenheimer revised QuickLogic's price target down from $13.00 to $11.00 while maintaining an "outperform" rating.
• Institutional investors now own 31.54% of QuickLogic's stock, showing significant interest from large investors in the company.

QuickLogic (NASDAQ:QUIK - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday.

Separately, Oppenheimer cut their price objective on QuickLogic from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $10.87.

QuickLogic Price Performance

Shares of NASDAQ QUIK traded down $0.07 during midday trading on Friday, reaching $5.55. 253,750 shares of the company traded hands, compared to its average volume of 226,735. The firm has a market cap of $91.17 million, a PE ratio of -11.81 and a beta of 0.63. The stock's 50-day simple moving average is $6.12 and its 200-day simple moving average is $5.97. QuickLogic has a 12 month low of $4.26 and a 12 month high of $13.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.23 and a current ratio of 1.27.

Institutional Trading of QuickLogic

A number of hedge funds and other institutional investors have recently made changes to their positions in QUIK. GAMMA Investing LLC increased its stake in shares of QuickLogic by 5,920.0% in the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock valued at $32,000 after buying an additional 6,216 shares in the last quarter. Tower Research Capital LLC TRC increased its position in 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 purchasing an additional 4,902 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in QuickLogic in the second quarter worth about $66,000. Wells Fargo & Company MN increased its position in QuickLogic by 49.4% in the fourth quarter. Wells Fargo & Company MN now owns 6,645 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 2,197 shares during the period. Finally, Jane Street Group LLC acquired a new stake in QuickLogic in the first quarter worth about $87,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

About QuickLogic

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.