Acuitas Investments LLC Buys 3,400 Shares of QuickLogic Co. (NASDAQ:QUIK)

Acuitas Investments LLC raised its position in QuickLogic Co. (NASDAQ:QUIK) by 54.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 9,700 shares of the semiconductor company’s stock after buying an additional 3,400 shares during the period. Acuitas Investments LLC owned about 0.07% of QuickLogic worth $101,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Hillsdale Investment Management Inc. boosted its holdings in QuickLogic by 918.8% in the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock valued at $78,000 after acquiring an additional 4,410 shares during the last quarter. Rhumbline Advisers acquired a new position in QuickLogic during the 2nd quarter valued at about $172,000. Gladstone Institutional Advisory LLC boosted its stake in shares of QuickLogic by 13.8% in the 4th quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock valued at $179,000 after purchasing an additional 1,565 shares during the last quarter. Thompson Davis & CO. Inc. acquired a new stake in shares of QuickLogic during the 1st quarter worth approximately $202,000. Finally, Victory Capital Management Inc. bought a new stake in shares of QuickLogic during the fourth quarter worth approximately $203,000. 31.54% of the stock is currently owned by institutional investors.

QuickLogic Stock Down 3.6 %

Shares of NASDAQ QUIK opened at $7.31 on Friday. The firm has a 50 day moving average price of $9.84 and a 200 day moving average price of $12.30. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.21. The stock has a market cap of $105.78 million, a P/E ratio of 121.83 and a beta of 1.56. QuickLogic Co. has a 52-week low of $7.26 and a 52-week high of $20.75.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data 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 the consensus estimate of $4.50 million. QuickLogic had a net margin of 7.38% and a return on equity of 9.56%. During the same quarter in the prior year, the company earned ($0.17) EPS. Analysts expect that QuickLogic Co. will post 0.08 EPS for the current year.

Insider Activity at QuickLogic

In other QuickLogic news, CEO Brian C. Faith sold 27,866 shares of QuickLogic stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total value of $246,056.78. Following the transaction, the chief executive officer now owns 215,849 shares of the company’s stock, valued at $1,905,946.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, CEO Brian C. Faith sold 27,866 shares of the stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total transaction of $246,056.78. Following the completion of the transaction, the chief executive officer now directly owns 215,849 shares in the company, valued at $1,905,946.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Elias Nader sold 4,458 shares of QuickLogic stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total value of $33,078.36. Following the completion of the sale, the chief financial officer now directly owns 52,740 shares in the company, valued at approximately $391,330.80. The disclosure for this sale can be found here. In the last three months, insiders sold 44,202 shares of company stock worth $378,653. 2.49% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

QUIK has been the topic of a number of recent research reports. Oppenheimer reduced their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Craig Hallum dropped their price objective on QuickLogic from $16.00 to $12.00 and set a “buy” rating for the company in a report on Wednesday, August 14th.

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.