QuickLogic (NASDAQ:QUIK) CFO Sells $131,241.60 in Stock

QuickLogic Corporation (NASDAQ:QUIK) CFO Elias Nader sold 12,152 shares of QuickLogic 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 $131,241.60. Following the completion of the sale, the chief financial officer owned 82,255 shares of the company’s stock, valued at approximately $888,354. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

QuickLogic Trading Down 1.9%

Shares of NASDAQ:QUIK opened at $10.01 on Thursday. The company has a market capitalization of $183.38 million, a P/E ratio of -13.00 and a beta of 1.20. QuickLogic Corporation has a 1 year low of $5.28 and a 1 year high of $24.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 2.06. The business’s 50 day simple moving average is $12.41 and its 200 day simple moving average is $14.25.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Tuesday, August 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $5.48 million for the quarter, compared to the consensus estimate of $6.00 million. QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%. On average, research analysts anticipate that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

QUIK has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Needham & Company LLC cut their price target on shares of QuickLogic from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $21.00.

Hedge Funds Weigh In On QuickLogic

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

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops customizable, low-power semiconductor solutions and intellectual property for consumer, industrial, communications, and other electronic devices. Its technologies are designed to help manufacturers add processing, connectivity, display, and sensor capabilities while reducing development time and power consumption.

The company’s offerings include embedded FPGA (eFPGA) intellectual property, which allows programmable logic to be integrated directly into a system-on-chip, as well as customer-specific standard products and related semiconductor solutions.