Joyce Kim Sells 5,500 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Joyce Kim sold 5,500 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $20.00, for a total value of $110,000.00. Following the sale, the director directly owned 2,140 shares in the company, valued at $42,800. This trade represents a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

QuickLogic Price Performance

NASDAQ QUIK opened at $20.11 on Friday. QuickLogic Corporation has a one year low of $4.80 and a one year high of $22.69. The stock has a 50-day moving average of $13.30 and a 200 day moving average of $9.28. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68. The company has a market capitalization of $366.61 million, a price-to-earnings ratio of -22.60 and a beta of 1.11.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results 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). QuickLogic had a negative net margin of 102.41% and a negative return on equity of 48.97%. The company had revenue of $5.05 million for the quarter, compared to analysts’ expectations of $5.51 million. On average, sell-side analysts forecast that QuickLogic Corporation will post -0.2 EPS for the current year.

Institutional Trading of QuickLogic

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of QuickLogic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock valued at $3,975,000 after buying an additional 28,587 shares in the last quarter. Royal Bank of Canada boosted its position in shares of QuickLogic by 14,694.5% in the first 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 period. Perkins Capital Management Inc. increased its stake in shares of QuickLogic by 11.2% in the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock worth $2,877,000 after purchasing an additional 31,000 shares in the last quarter. Raymond James Financial Inc. lifted its stake in shares of QuickLogic by 2.8% during the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock valued at $1,295,000 after buying an additional 5,721 shares in the last quarter. Finally, Cadent Capital Advisors LLC purchased a new position in shares of QuickLogic in the fourth quarter valued at about $1,036,000. Institutional investors own 31.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on QUIK. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 target price (up from $11.00) on shares of QuickLogic in a research 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. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Finally, Needham & Company LLC assumed coverage on shares of QuickLogic in a research report on Wednesday. They set a “buy” rating and a $22.00 price target for the company. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, QuickLogic currently has a consensus rating of “Hold” and an average price target of $22.00.

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.