Insider Selling: QuickLogic Co. (NASDAQ:QUIK) VP Sells 10,000 Shares of Stock

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. This trade represents a 8.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

QuickLogic Stock Up 2.5 %

NASDAQ:QUIK opened at $7.05 on Wednesday. QuickLogic Co. has a 12-month low of $6.82 and a 12-month high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $103.71 million, a P/E ratio of -70.50 and a beta of 1.56. The stock’s fifty day simple moving average is $7.85 and its 200-day simple moving average is $9.70.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same quarter in the prior year, the business earned $0.08 earnings per share. Equities research analysts expect that QuickLogic Co. will post 0.08 earnings per share for the current year.

Institutional Trading of QuickLogic

Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in QuickLogic by 29.9% during the 1st quarter. Acadian Asset Management LLC now owns 63,152 shares of the semiconductor company’s stock worth $1,010,000 after buying an additional 14,520 shares during the period. American Century Companies Inc. raised its stake in shares of QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 3,750 shares during the period. Bank of New York Mellon Corp raised its stake in shares of QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 38,273 shares during the period. Raymond James & Associates raised its stake in shares of QuickLogic by 83.1% in the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock valued at $1,343,000 after purchasing an additional 58,668 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of QuickLogic in the 2nd quarter valued at about $172,000. Institutional investors and hedge funds own 31.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QUIK. Craig Hallum dropped their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Oppenheimer decreased their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th.

About QuickLogic

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.