QuickLogic (NASDAQ:QUIK) Director Michael Farese Sells 4,800 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 4,800 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $11.71, for a total transaction of $56,208.00. Following the transaction, the director directly owned 30,540 shares in the company, valued at approximately $357,623.40. The trade was a 13.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuickLogic Trading Up 4.5%

NASDAQ QUIK opened at $11.79 on Wednesday. The company’s fifty day simple moving average is $8.77 and its 200-day simple moving average is $7.49. QuickLogic Corporation has a 52 week low of $4.34 and a 52 week high of $11.80. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.04. The stock has a market cap of $208.92 million, a P/E ratio of -13.10 and a beta of 0.59.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 47.54% and a negative net margin of 107.70%.The firm had revenue of $3.73 million for the quarter, compared to analyst estimates of $3.50 million. Equities research analysts predict that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

QUIK has been the topic of a number of recent research reports. Lake Street Capital initiated coverage on shares of QuickLogic in a research report on Monday, February 9th. They set a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $10.50.

Institutional Trading of QuickLogic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd bought a new stake in shares of QuickLogic in the fourth quarter worth $166,000. Captrust Financial Advisors increased its stake in shares of QuickLogic by 4.5% in the fourth quarter. Captrust Financial Advisors now owns 35,618 shares of the semiconductor company’s stock worth $214,000 after buying an additional 1,547 shares during the last quarter. Squarepoint Ops LLC bought a new stake in shares of QuickLogic in the fourth quarter worth $84,000. State Street Corp increased its stake in shares of QuickLogic by 5.0% in the fourth quarter. State Street Corp now owns 65,056 shares of the semiconductor company’s stock worth $391,000 after buying an additional 3,100 shares during the last quarter. Finally, Jane Street Group LLC increased its stake in shares of QuickLogic by 245.2% in the fourth quarter. Jane Street Group LLC now owns 47,906 shares of the semiconductor company’s stock worth $288,000 after buying an additional 34,029 shares during the last quarter. 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.