QuickLogic Corporation (NASDAQ:QUIK) was downgraded by research analysts at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

Several other analysts have also weighed in on QUIK. Roth Capital lowered QuickLogic Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, May 11th. Zacks Investment Research lowered QuickLogic Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, May 17th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $2.42.

QuickLogic Corporation (NASDAQ QUIK) opened at 1.45 on Friday. QuickLogic Corporation has a 52 week low of $0.75 and a 52 week high of $2.48. The company has a 50 day moving average of $1.37 and a 200 day moving average of $1.51. The stock’s market capitalization is $116.16 million.

QuickLogic Corporation (NASDAQ:QUIK) last released its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.05) earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.05). QuickLogic Corporation had a negative return on equity of 84.50% and a negative net margin of 130.99%. The company had revenue of $3.03 million for the quarter, compared to analyst estimates of $3.20 million. During the same quarter in the prior year, the firm posted ($0.07) EPS. QuickLogic Corporation’s quarterly revenue was up 11.4% compared to the same quarter last year. Equities analysts expect that QuickLogic Corporation will post ($0.17) EPS for the current fiscal year.

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A number of hedge funds have recently added to or reduced their stakes in QUIK. Frontier Capital Management Co. LLC raised its stake in QuickLogic Corporation by 63.8% in the first quarter. Frontier Capital Management Co. LLC now owns 6,825,273 shares of the semiconductor company’s stock worth $12,149,000 after buying an additional 2,657,793 shares during the last quarter. Vanguard Group Inc. raised its stake in QuickLogic Corporation by 106.3% in the first quarter. Vanguard Group Inc. now owns 3,383,138 shares of the semiconductor company’s stock worth $6,022,000 after buying an additional 1,742,844 shares during the last quarter. Driehaus Capital Management LLC acquired a new stake in QuickLogic Corporation during the first quarter worth $821,000. EAM Investors LLC acquired a new stake in QuickLogic Corporation during the first quarter worth $609,000. Finally, Firsthand Capital Management Inc. raised its stake in QuickLogic Corporation by 92.6% in the first quarter. Firsthand Capital Management Inc. now owns 520,000 shares of the semiconductor company’s stock worth $926,000 after buying an additional 250,000 shares during the last quarter. Institutional investors and hedge funds own 19.94% of the company’s stock.

About QuickLogic Corporation

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).

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