Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells 5,500 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Joyce Kim sold 5,500 shares of QuickLogic stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total value of $110,000.00. Following the completion of the transaction, the director owned 2,140 shares of the company’s stock, valued at $42,800. This trade represents a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

QuickLogic Stock Performance

QUIK stock traded down $0.29 during midday trading on Thursday, reaching $20.17. The company had a trading volume of 348,921 shares, compared to its average volume of 335,687. 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 $12.87 and a 200 day moving average price of $9.12. QuickLogic Corporation has a fifty-two week low of $4.80 and a fifty-two week high of $22.69. The firm has a market capitalization of $367.70 million, a PE ratio of -22.66 and a beta of 1.11.

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

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently added to or reduced their stakes in QUIK. Tower Research Capital LLC TRC grew 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 purchasing an additional 4,902 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in QuickLogic during the 3rd quarter worth approximately $71,000. Squarepoint Ops LLC purchased a new position in QuickLogic during the 4th quarter worth approximately $84,000. Jane Street Group LLC purchased a new position in QuickLogic during the 1st quarter worth approximately $87,000. Finally, Dimensional Fund Advisors LP purchased a new position in QuickLogic during the 4th quarter worth approximately $102,000. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on QUIK. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 price target (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Finally, Needham & Company LLC initiated coverage on QuickLogic in a report on Wednesday. They issued a “buy” rating and a $22.00 price target on the stock. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $22.00.

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.