Bank of New York Mellon Corp cut its position in QuickLogic Corporation (NASDAQ:QUIK) by 7.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,865 shares of the semiconductor company’s stock after selling 5,890 shares during the period. Bank of New York Mellon Corp owned 0.11% of QuickLogic Corporation worth $128,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC purchased a new position in QuickLogic Corporation during the first quarter worth approximately $1,091,000. First Mercantile Trust Co. increased its position in QuickLogic Corporation 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 during the period. Finally, Creative Planning increased its position in QuickLogic Corporation 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 during the period. Institutional investors own 20.45% of the company’s stock.
Shares of QuickLogic Corporation (NASDAQ QUIK) traded down 4.58% during midday trading on Friday, hitting $1.25. The company had a trading volume of 409,252 shares. The company’s 50 day moving average is $1.43 and its 200 day moving average is $1.54. The firm’s market cap is $99.75 million. QuickLogic Corporation has a one year low of $0.75 and a one year high of $2.48.
QuickLogic Corporation (NASDAQ:QUIK) last released its quarterly earnings results on Wednesday, August 9th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.05). The company had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.20 million. QuickLogic Corporation had a negative return on equity of 89.09% and a negative net margin of 130.99%. The firm’s revenue was up 11.4% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.07) EPS. Equities analysts forecast that QuickLogic Corporation will post ($0.17) earnings per share for the current fiscal year.
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A number of equities analysts have recently commented on the company. Roth Capital downgraded QuickLogic Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, May 11th. Zacks Investment Research downgraded QuickLogic Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, April 19th.
QuickLogic Corporation Company Profile
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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