Segantii Capital Management Ltd bought a new position in shares of QuickLogic Co. (NASDAQ:QUIK) during the first quarter, Holdings Channel reports. The fund bought 106,021 shares of the semiconductor company’s stock, valued at approximately $189,000.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Creative Planning boosted its position in QuickLogic by 1,565.6% in the first quarter. Creative Planning now owns 161,177 shares of the semiconductor company’s stock worth $287,000 after buying an additional 151,500 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in QuickLogic during the first quarter worth approximately $1,091,000. EAM Investors LLC purchased a new position in QuickLogic during the first quarter worth approximately $609,000. First Mercantile Trust Co. boosted its position in QuickLogic by 48.5% in the first quarter. First Mercantile Trust Co. now owns 82,670 shares of the semiconductor company’s stock worth $147,000 after buying an additional 27,006 shares in the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in QuickLogic 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 in the last quarter. 16.13% of the stock is currently owned by institutional investors and hedge funds.
Shares of QuickLogic Co. (NASDAQ QUIK) traded up 4.88% on Tuesday, hitting $1.29. The stock had a trading volume of 220,673 shares. The company has a 50 day moving average price of $1.46 and a 200-day moving average price of $1.47. The stock’s market cap is $102.63 million. QuickLogic Co. has a 12 month low of $0.75 and a 12 month high of $2.48.
QuickLogic (NASDAQ:QUIK) last announced its earnings results on Wednesday, May 10th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.05). The firm had revenue of $3.20 million for the quarter, compared to analysts’ expectations of $3.10 million. QuickLogic had a negative net margin of 112.46% and a negative return on equity of 79.40%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. On average, equities research analysts anticipate that QuickLogic Co. will post ($0.15) earnings per share for the current year.
QUIK has been the topic of a number of research analyst reports. Zacks Investment Research raised QuickLogic from a “hold” rating to a “buy” rating and set a $1.75 target price on the stock in a research note on Thursday, February 23rd. Craig Hallum initiated coverage on QuickLogic in a research note on Monday, February 6th. They issued a “buy” rating and a $2.50 target price on the stock. Finally, Roth Capital cut QuickLogic from a “buy” rating to a “neutral” rating in a research note on Thursday, May 11th.
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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