QuickLogic (NASDAQ:QUIK) VP Timothy Saxe Sells 15,190 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) VP Timothy Saxe sold 15,190 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total transaction of $164,052.00. Following the transaction, the vice president owned 143,976 shares in the company, valued at $1,554,940.80. The trade was a 9.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

QuickLogic Trading Down 4.5%

Shares of QUIK opened at $10.33 on Tuesday. The firm has a market cap of $189.25 million, a price-to-earnings ratio of -13.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.06 and a current ratio of 2.15. QuickLogic Corporation has a fifty-two week low of $5.28 and a fifty-two week high of $24.33. The firm has a 50 day moving average price of $12.62 and a 200-day moving average price of $14.22.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $5.48 million during the quarter, compared to analysts’ expectations of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. As a group, equities research analysts forecast that QuickLogic Corporation will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

QUIK has been the topic of several recent research reports. Needham & Company LLC reduced their price target on QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two equities 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.com, QuickLogic currently has a consensus rating of “Hold” and an average price target of $21.00.

Institutional Trading of QuickLogic

A number of institutional investors have recently modified their holdings of QUIK. Royal Bank of Canada raised its position in QuickLogic by 14,694.5% during the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock valued at $3,266,000 after purchasing an additional 345,762 shares during the last quarter. Perkins Capital Management Inc. grew its position in shares of QuickLogic by 11.2% in the 1st quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock worth $2,877,000 after buying an additional 31,000 shares during the last quarter. Themes Management Co LLC bought a new stake in shares of QuickLogic in the 1st quarter worth approximately $1,309,000. Sei Investments Co. purchased a new position in shares of QuickLogic during the first quarter valued at approximately $987,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of QuickLogic during the second quarter valued at approximately $754,000. 31.54% of the stock is currently owned by hedge funds and other 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.