QuickLogic Co. (NASDAQ:QUIK) Stock Position Cut by Perkins Capital Management Inc.

Perkins Capital Management Inc. lessened its stake in QuickLogic Co. (NASDAQ:QUIK) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 222,606 shares of the semiconductor company’s stock after selling 3,857 shares during the period. QuickLogic accounts for approximately 2.6% of Perkins Capital Management Inc.’s investment portfolio, making the stock its 9th largest holding. Perkins Capital Management Inc. owned about 1.60% of QuickLogic worth $3,085,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new stake in QuickLogic in the third quarter worth about $26,000. Renaissance Technologies LLC acquired a new stake in QuickLogic in the second quarter worth about $95,000. Wolverine Trading LLC acquired a new stake in QuickLogic in the second quarter worth about $102,000. Quadrature Capital Ltd acquired a new stake in QuickLogic in the third quarter worth about $111,000. Finally, State Street Corp boosted its holdings in QuickLogic by 10.4% in the first quarter. State Street Corp now owns 31,681 shares of the semiconductor company’s stock worth $174,000 after acquiring an additional 2,973 shares in the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.

Wall Street Analyst Weigh In

QUIK has been the subject of several recent analyst reports. TheStreet raised QuickLogic from a “d” rating to a “c” rating in a report on Thursday, February 29th. StockNews.com raised QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, February 3rd. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $16.00 target price (up previously from $12.00) on shares of QuickLogic in a report on Wednesday, February 28th.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, Director Russell Christine sold 4,444 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $16.74, for a total value of $74,392.56. Following the completion of the transaction, the director now directly owns 3,717 shares of the company’s stock, valued at $62,222.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Russell Christine sold 4,444 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $16.74, for a total value of $74,392.56. Following the completion of the sale, the director now directly owns 3,717 shares in the company, valued at $62,222.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $16.33, for a total value of $163,300.00. Following the completion of the sale, the vice president now owns 120,755 shares of the company’s stock, valued at $1,971,929.15. The disclosure for this sale can be found here. 2.49% of the stock is currently owned by corporate insiders.

QuickLogic Trading Down 0.6 %

Shares of QuickLogic stock traded down $0.09 on Monday, reaching $15.94. 77,706 shares of the stock were exchanged, compared to its average volume of 254,186. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. QuickLogic Co. has a twelve month low of $5.09 and a twelve month high of $20.75. The business has a 50 day moving average price of $14.53 and a two-hundred day moving average price of $12.23.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. QuickLogic had a negative return on equity of 1.85% and a negative net margin of 1.24%. The company had revenue of $7.48 million during the quarter, compared to the consensus estimate of $7.40 million. As a group, analysts predict that QuickLogic Co. will post 0.17 earnings per share for the current fiscal year.

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.