Cutter & CO Brokerage Inc. Takes $106,000 Position in QuickLogic Co. (NASDAQ:QUIK)

Cutter & CO Brokerage Inc. acquired a new position in QuickLogic Co. (NASDAQ:QUIK) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 13,775 shares of the semiconductor company’s stock, valued at approximately $106,000.

Other large investors have also recently added to or reduced their stakes in the company. Hillsdale Investment Management Inc. lifted its stake in shares of QuickLogic by 918.8% in the 1st quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after acquiring an additional 4,410 shares during the period. Acuitas Investments LLC lifted its stake in QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after purchasing an additional 3,400 shares during the last quarter. XTX Topco Ltd bought a new stake in QuickLogic during the second quarter worth approximately $127,000. Rhumbline Advisers acquired a new position in QuickLogic in the second quarter worth approximately $172,000. Finally, American Century Companies Inc. increased its holdings in shares of QuickLogic by 24.8% in the second quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after buying an additional 3,750 shares in the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on QUIK shares. Oppenheimer reduced their price objective on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research note on Wednesday, August 14th. Craig Hallum dropped their price target on QuickLogic from $16.00 to $12.00 and set a “buy” rating on the stock in a research note on Wednesday, August 14th. Finally, StockNews.com lowered shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th.

Insider Buying and Selling at QuickLogic

In related news, VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $8.44, for a total transaction of $84,400.00. Following the completion of the transaction, the vice president now directly owns 104,934 shares in the company, valued at $885,642.96. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction of $84,400.00. Following the completion of the transaction, the vice president now directly owns 104,934 shares in the company, valued at $885,642.96. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Elias Nader sold 4,458 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $7.42, for a total transaction of $33,078.36. Following the sale, the chief financial officer now directly owns 52,740 shares in the company, valued at $391,330.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,202 shares of company stock worth $378,653 over the last 90 days. Insiders own 1.70% of the company’s stock.

QuickLogic Price Performance

Shares of NASDAQ:QUIK opened at $7.76 on Wednesday. The company’s fifty day moving average is $8.01 and its two-hundred day moving average is $10.25. The company has a market cap of $112.29 million, a P/E ratio of 64.67 and a beta of 1.56. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.01. QuickLogic Co. has a 12-month low of $7.01 and a 12-month high of $20.75.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Tuesday, August 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06). The firm had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $4.50 million. QuickLogic had a net margin of 7.38% and a return on equity of 9.56%. During the same quarter last year, the firm earned ($0.17) EPS. Equities analysts expect that QuickLogic Co. will post 0.08 earnings per share for the current fiscal year.

About QuickLogic

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.