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

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 41,480 shares of the company’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total transaction of $848,266.00. Following the completion of the transaction, the chief executive officer owned 228,412 shares of the company’s stock, valued at approximately $4,671,025.40. This trade represents a 15.37% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

QuickLogic Price Performance

NASDAQ QUIK opened at $20.11 on Friday. QuickLogic Corporation has a 52 week low of $4.80 and a 52 week high of $22.69. 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 stock has a market cap of $366.61 million, a price-to-earnings ratio of -22.60 and a beta of 1.11. The company has a 50-day moving average price of $13.30 and a two-hundred day moving average price of $9.28.

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Tower Research Capital LLC TRC boosted its holdings in shares of QuickLogic by 246.5% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 4,902 shares in the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of QuickLogic in the third quarter valued at approximately $71,000. Squarepoint Ops LLC bought a new position in shares of QuickLogic in the fourth quarter valued at approximately $84,000. Jane Street Group LLC bought a new position in shares of QuickLogic in the first quarter valued at approximately $87,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of QuickLogic in the fourth quarter valued at approximately $102,000. 31.54% of the stock is currently owned by institutional investors.

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.