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

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

Separately, Oppenheimer cut their price target on QuickLogic from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $10.87.

QuickLogic Stock Performance

QUIK stock traded up $0.03 during trading on Thursday, hitting $5.37. The company had a trading volume of 61,684 shares, compared to its average volume of 197,917. The firm has a 50-day moving average price of $5.38 and a 200-day moving average price of $7.13. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The firm has a market cap of $85.04 million, a PE ratio of -53.60 and a beta of 0.71. QuickLogic has a 1-year low of $4.26 and a 1-year high of $13.74.

Institutional Trading of QuickLogic

Institutional investors have recently modified their holdings of the business. Jane Street Group LLC purchased a new position in QuickLogic in the first quarter worth $87,000. Goldman Sachs Group Inc. increased its holdings in shares of QuickLogic by 62.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company's stock valued at $282,000 after purchasing an additional 21,275 shares in the last quarter. Vident Advisory LLC acquired a new stake in shares of QuickLogic in the first quarter valued at about $109,000. Sprott Inc. boosted its holdings in QuickLogic by 86.7% during the first quarter. Sprott Inc. now owns 28,000 shares of the semiconductor company's stock worth $143,000 after buying an additional 13,000 shares in the last quarter. Finally, Nuveen LLC acquired a new position in QuickLogic during the first quarter worth about $95,000. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

QuickLogic Company 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.

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