QuickLogic (NASDAQ:QUIK) VP Sells 15,190 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) VP Timothy Saxe sold 15,190 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total transaction of $164,052.00. Following the completion of the sale, the vice president directly owned 143,976 shares in the company, valued at approximately $1,554,940.80. This trade represents a 9.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

QuickLogic Stock Performance

QUIK traded down $0.49 on Monday, hitting $10.33. The company’s stock had a trading volume of 264,379 shares, compared to its average volume of 351,843. The company’s 50 day simple moving average is $12.74 and its 200-day simple moving average is $14.20. The firm has a market cap of $189.25 million, a P/E ratio of -13.42 and a beta of 1.20. QuickLogic Corporation has a 12 month low of $5.28 and a 12 month high of $24.33. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $5.48 million for the quarter, compared to the consensus estimate of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. Analysts forecast that QuickLogic Corporation will post -0.26 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Needham & Company LLC dropped their price objective on QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $21.00.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. California State Teachers Retirement System purchased a new stake in shares of QuickLogic in the second quarter worth $91,000. Bank of New York Mellon Corp purchased a new position in QuickLogic during the second quarter worth about $754,000. Bank of America Corp DE increased its stake in QuickLogic by 382.8% in the 1st quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company’s stock worth $270,000 after acquiring an additional 22,812 shares during the last quarter. Royal Bank of Canada raised its holdings in shares of QuickLogic by 14,694.5% in the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock valued at $3,266,000 after acquiring an additional 345,762 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of QuickLogic in the 1st quarter valued at about $151,000. Institutional investors own 31.54% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.