Gary Tauss Sells 2,195 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Gary Tauss sold 2,195 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $19.20, for a total value of $42,144.00. Following the transaction, the director directly owned 15,908 shares in the company, valued at approximately $305,433.60. This represents a 12.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

QuickLogic Stock Down 2.9%

Shares of QuickLogic stock opened at $17.92 on Wednesday. The stock has a market capitalization of $326.68 million, a P/E ratio of -20.13 and a beta of 1.11. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a 50 day moving average price of $12.63 and a two-hundred day moving average price of $9.02. QuickLogic Corporation has a 12-month low of $4.80 and a 12-month high of $22.69.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). QuickLogic had a negative net margin of 102.41% and a negative return on equity of 48.97%. The firm had revenue of $5.05 million during the quarter, compared to the consensus estimate of $5.51 million. Equities analysts expect that QuickLogic Corporation will post -0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QUIK. Lake Street Capital reissued a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $22.00.

Hedge Funds Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently bought and sold shares of QUIK. Bank of America Corp DE raised its stake in QuickLogic by 382.8% during the 1st quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company’s stock valued at $270,000 after purchasing an additional 22,812 shares during the last quarter. Royal Bank of Canada grew its position in QuickLogic by 14,694.5% in the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after purchasing an additional 345,762 shares during the last quarter. OMERS ADMINISTRATION Corp acquired a new stake in QuickLogic in the 1st quarter worth $151,000. Themes Management Co LLC bought a new position in shares of QuickLogic during the 1st quarter worth about $1,309,000. Finally, Sei Investments Co. acquired a new position in shares of QuickLogic during the first quarter valued at about $987,000. 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.