QuickLogic Corp. (NASDAQ:QUIK) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

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. “

A number of other brokerages have also recently issued reports on QUIK. Roth Capital restated a “buy” rating and set a $1.50 target price on shares of QuickLogic Corp. in a research report on Thursday, September 1st. Benchmark Co. restated a “buy” rating and set a $3.00 target price on shares of QuickLogic Corp. in a research report on Friday, November 4th.

QuickLogic Corp. (NASDAQ:QUIK) opened at 0.7895 on Wednesday. QuickLogic Corp. has a 52-week low of $0.75 and a 52-week high of $1.66. The stock’s market cap is $53.51 million. The company’s 50 day moving average is $0.81 and its 200-day moving average is $0.92.

QuickLogic Corp. (NASDAQ:QUIK) last announced its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.06) EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.06). QuickLogic Corp. had a negative net margin of 166.33% and a negative return on equity of 91.74%. The firm earned $2.80 million during the quarter, compared to analysts’ expectations of $2.80 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was down 33.3% compared to the same quarter last year. On average, equities analysts anticipate that QuickLogic Corp. will post ($0.27) earnings per share for the current year.

A hedge fund recently raised its stake in QuickLogic Corp. stock. Vanguard Group Inc. boosted its position in shares of QuickLogic Corp. (NASDAQ:QUIK) by 0.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,757,306 shares of the company’s stock after buying an additional 10,710 shares during the period. Vanguard Group Inc. owned about 2.62% of QuickLogic Corp. worth $1,704,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 20.86% of the company’s stock.

About QuickLogic Corp.

QuickLogic Corporation develops and markets semiconductor and software algorithm solutions. The Company’s solutions primarily target smartphones, wearable devices, tablets, and the Internet-of-Things (IoT). The Company is a fabless semiconductor provider of flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays (FPGAs).

5 Day Chart for NASDAQ:QUIK

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