QuickLogic (NASDAQ:QUIK) CEO Brian Faith Sells 41,480 Shares

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 41,480 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total value of $848,266.00. Following the sale, the chief executive officer owned 228,412 shares in the company, valued at approximately $4,671,025.40. This represents a 15.37% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QuickLogic Stock Down 1.4%

Shares of QuickLogic stock traded down $0.29 on Thursday, reaching $20.17. 348,921 shares of the company were exchanged, compared to its average volume of 335,687. QuickLogic Corporation has a one year low of $4.80 and a one year high of $22.69. The company has a market capitalization of $367.70 million, a price-to-earnings ratio of -22.66 and a beta of 1.11. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. The company has a 50-day moving average of $12.87 and a 200 day moving average of $9.12.

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

Wall Street Analysts Forecast Growth

A number of research firms recently 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 report on Wednesday, May 13th. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Needham & Company LLC began coverage on QuickLogic in a report on Wednesday. They set a “buy” rating and a $22.00 target price on the stock. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, QuickLogic presently has a consensus rating of “Hold” and a consensus target price of $22.00.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after buying an additional 4,902 shares during the period. Stratos Wealth Advisors LLC bought a new position in QuickLogic during the 3rd quarter worth $71,000. Squarepoint Ops LLC bought a new position in QuickLogic during the 4th quarter worth $84,000. Jane Street Group LLC bought a new position in QuickLogic during the 1st quarter worth $87,000. Finally, Dimensional Fund Advisors LP bought a new position in QuickLogic during the 4th quarter worth $102,000. Institutional investors own 31.54% of the company’s stock.

About QuickLogic

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.