QuickLogic (NASDAQ:QUIK) Downgraded by Zacks Investment Research

QuickLogic (NASDAQ:QUIK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “QuickLogic Corporation is a semiconductor provider of ultra-low power, comprehensive, flexible sensor processing solutions enabling significantly longer battery life for the Smartphone, Wearable, and IoT markets. They are the only company integrating multi-core processing, programmable logic, sensor fusion and context aware algorithms, and embedded software. QuickLogic accelerates the pace of innovation for always-on motion, light, environmental, location, and voice-enabled user experiences. “

QUIK has been the subject of a number of other reports. Craig Hallum dropped their price target on shares of QuickLogic from $14.00 to $8.50 and set an “in-line” rating for the company in a research report on Thursday. ValuEngine upgraded shares of QuickLogic from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 4th. Oppenheimer dropped their price target on shares of QuickLogic from $14.00 to $1.00 and set an “outperform” rating for the company in a research report on Monday, January 13th. Finally, Roth Capital lifted their price target on shares of QuickLogic to and gave the company a “neutral” rating in a research report on Monday, January 13th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. QuickLogic presently has an average rating of “Buy” and an average price target of $8.00.

Shares of NASDAQ:QUIK opened at $5.87 on Friday. QuickLogic has a 12-month low of $2.81 and a 12-month high of $13.86. The stock has a market cap of $55.99 million, a PE ratio of -2.62 and a beta of 0.43. The business has a 50 day moving average of $6.62 and a 200-day moving average of $1.96. The company has a quick ratio of 1.52, a current ratio of 1.71 and a debt-to-equity ratio of 0.09.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Wednesday, February 12th. The semiconductor company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.31) by $0.02. QuickLogic had a negative return on equity of 85.41% and a negative net margin of 144.73%. The company had revenue of $2.87 million during the quarter, compared to analysts’ expectations of $2.90 million. During the same quarter in the previous year, the company posted ($0.42) earnings per share. Equities research analysts expect that QuickLogic will post -2.06 earnings per share for the current year.

A hedge fund recently raised its stake in QuickLogic stock. Vanguard Group Inc. lifted its stake in shares of QuickLogic Co. (NASDAQ:QUIK) by 10.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,167,499 shares of the semiconductor company’s stock after buying an additional 385,317 shares during the period. Vanguard Group Inc. owned about 3.59% of QuickLogic worth $2,398,000 as of its most recent SEC filing.

About QuickLogic

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

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