Insider Selling: QuickLogic (NASDAQ:QUIK) VP Sells $53,099.00 in Stock

QuickLogic Corporation (NASDAQ:QUIK) VP Timothy Saxe sold 9,155 shares of the firm’s stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $5.80, for a total value of $53,099.00. Following the completion of the sale, the vice president directly owned 125,916 shares of the company’s stock, valued at approximately $730,312.80. The trade was a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QuickLogic Stock Up 7.9%

QUIK stock opened at $6.27 on Tuesday. QuickLogic Corporation has a 1-year low of $4.26 and a 1-year high of $13.36. The business’s 50 day simple moving average is $5.81 and its 200 day simple moving average is $5.68. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $103.02 million, a PE ratio of -13.34 and a beta of 0.74.

Hedge Funds Weigh In On QuickLogic

Several hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its position in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after buying an additional 4,902 shares in the last quarter. Raymond James Financial Inc. increased its stake in QuickLogic by 2.8% in the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock valued at $1,295,000 after acquiring an additional 5,721 shares during the last quarter. Qube Research & Technologies Ltd raised its position in QuickLogic by 40.6% during the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after purchasing an additional 28,751 shares in the last quarter. XTX Topco Ltd bought a new stake in QuickLogic during the second quarter worth $171,000. Finally, Prospera Financial Services Inc acquired a new stake in shares of QuickLogic in the 2nd quarter valued at $96,000. 31.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $10.87.

QuickLogic Company Profile

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.