QuickLogic (NASDAQ:QUIK) Earns "Sell (D)" Rating from Weiss Ratings

Key Points

• QuickLogic has received a "Sell (D)" rating from Weiss Ratings, indicating a negative outlook on the stock.
• Recent trades by insiders, including the CFO and VP, involved the sale of a significant number of shares, reflecting a decrease in their ownership positions.
• Institutional investors have notably increased their stakes in QuickLogic, with GAMMA Investing LLC lifting its position by 5,920% in the first quarter.

QuickLogic (NASDAQ:QUIK - Get Free Report)'s stock had its "sell (d)" rating restated by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Separately, Wall Street Zen lowered shares of QuickLogic from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $10.87.

QuickLogic Trading Down 2.1%

Shares of QUIK opened at $6.54 on Wednesday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.27 and a quick ratio of 1.23. QuickLogic has a 1 year low of $4.26 and a 1 year high of $13.36. The company has a 50 day simple moving average of $5.76 and a two-hundred day simple moving average of $5.70. The firm has a market cap of $107.43 million, a P/E ratio of -13.91 and a beta of 0.76.

Insider Activity

In other news, CFO Elias Nader sold 7,325 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $5.80, for a total value of $42,485.00. Following the sale, the chief financial officer owned 82,006 shares of the company's stock, valued at approximately $475,634.80. This represents a 8.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy Saxe sold 9,155 shares of the stock in a transaction on Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $53,099.00. Following the completion of the sale, the vice president directly owned 125,916 shares in the company, valued at approximately $730,312.80. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 32,836 shares of company stock valued at $189,133. 1.50% of the stock is currently owned by company insiders.

Institutional Trading of QuickLogic

Institutional investors and hedge funds have recently made changes to their positions in the business. GAMMA Investing LLC lifted its position in shares of QuickLogic by 5,920.0% during the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 6,216 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in shares of QuickLogic by 246.5% during 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 last quarter. Vanguard Personalized Indexing Management LLC bought a new stake in shares of QuickLogic during the second quarter worth $66,000. Bank of America Corp DE lifted its position in shares of QuickLogic by 40.5% during the fourth quarter. Bank of America Corp DE now owns 13,091 shares of the semiconductor company's stock worth $148,000 after purchasing an additional 3,773 shares during the last quarter. Finally, Prospera Financial Services Inc bought a new stake in shares of QuickLogic during the second quarter worth $96,000. 31.54% of the stock is currently owned by institutional investors.

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.

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