QuickLogic Co. (NASDAQ:QUIK) was the target of a large drop in short interest in the month of October. As of October 31st, there was short interest totalling 2,030,000 shares, a drop of 11.0% from the September 30th total of 2,280,000 shares. Based on an average trading volume of 400,900 shares, the short-interest ratio is presently 5.1 days. Approximately 1.8% of the shares of the company are short sold.

Several hedge funds have recently added to or reduced their stakes in QUIK. AWM Investment Company Inc. increased its holdings in shares of QuickLogic by 124.0% in the 2nd quarter. AWM Investment Company Inc. now owns 5,419,435 shares of the semiconductor company’s stock worth $3,119,000 after acquiring an additional 3,000,000 shares during the period. Worth Venture Partners LLC increased its stake in QuickLogic by 797.2% during the 2nd quarter. Worth Venture Partners LLC now owns 1,131,341 shares of the semiconductor company’s stock valued at $651,000 after buying an additional 1,005,247 shares during the period. Vanguard Group Inc. increased its stake in QuickLogic by 10.2% during the 2nd quarter. Vanguard Group Inc. now owns 4,167,499 shares of the semiconductor company’s stock valued at $2,398,000 after buying an additional 385,317 shares during the period. Tower Research Capital LLC TRC increased its stake in QuickLogic by 731.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 66,431 shares of the semiconductor company’s stock valued at $38,000 after buying an additional 58,438 shares during the period. Finally, NJ State Employees Deferred Compensation Plan increased its stake in QuickLogic by 22.7% during the 2nd quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the semiconductor company’s stock valued at $155,000 after buying an additional 50,000 shares during the period. 18.98% of the stock is currently owned by institutional investors and hedge funds.

Shares of QUIK stock traded up $0.01 during trading hours on Monday, reaching $0.26. The stock had a trading volume of 333,600 shares, compared to its average volume of 359,357. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.71 and a quick ratio of 1.68. QuickLogic has a twelve month low of $0.20 and a twelve month high of $1.19. The firm has a 50-day simple moving average of $0.34 and a 200-day simple moving average of $0.50. The firm has a market capitalization of $26.83 million, a PE ratio of -1.73 and a beta of 0.39.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data on Wednesday, November 6th. The semiconductor company reported ($0.03) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.01. QuickLogic had a negative net margin of 144.73% and a negative return on equity of 85.41%. The business had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $2.10 million. During the same quarter last year, the company earned ($0.03) EPS. On average, equities analysts anticipate that QuickLogic will post -0.12 earnings per share for the current year.

A number of analysts recently weighed in on the stock. ValuEngine cut shares of QuickLogic from a “hold” rating to a “sell” rating in a report on Thursday, September 5th. Zacks Investment Research raised shares of QuickLogic from a “sell” rating to a “hold” rating in a report on Wednesday, October 9th. Oppenheimer assumed coverage on shares of QuickLogic in a report on Wednesday, August 14th. They issued an “outperform” rating and a $1.00 price objective on the stock. Finally, CIBC assumed coverage on shares of QuickLogic in a report on Thursday, August 15th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. QuickLogic currently has a consensus rating of “Hold” and an average target price of $1.00.

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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