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

QuickLogic (NASDAQ:QUIK - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a note issued to investors on Thursday.

Separately, Oppenheimer dropped their target price on shares of QuickLogic from $13.00 to $11.00 and set an "outperform" rating on the stock in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $10.87.

QuickLogic Trading Up 5.2%

Shares of NASDAQ QUIK traded up $0.26 during mid-day trading on Thursday, reaching $5.29. The company had a trading volume of 66,779 shares, compared to its average volume of 196,714. The business's 50-day moving average is $5.32 and its 200-day moving average is $7.06. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The stock has a market cap of $83.77 million, a price-to-earnings ratio of -52.80 and a beta of 0.71. QuickLogic has a 52 week low of $4.26 and a 52 week high of $13.74.

Institutional Inflows and Outflows

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