QuickLogic (NASDAQ:QUIK) CEO Sells $848,266.00 in Stock

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 41,480 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were 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 directly owned 228,412 shares of the company’s stock, valued at approximately $4,671,025.40. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

QuickLogic Trading Down 0.3%

NASDAQ QUIK opened at $20.11 on Friday. The firm has a 50 day simple moving average of $13.30 and a 200-day simple 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. QuickLogic Corporation has a one year low of $4.80 and a one year high of $22.69. The firm has a market cap of $366.61 million, a price-to-earnings ratio of -22.60 and a beta of 1.11.

QuickLogic (NASDAQ:QUIK) last released 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 company had revenue of $5.05 million for the quarter, compared to analyst estimates of $5.51 million. Equities research analysts anticipate that QuickLogic Corporation will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently made changes to their positions in QUIK. Goldman Sachs Group Inc. grew its position in shares of QuickLogic by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock worth $282,000 after buying an additional 21,275 shares in the last quarter. Jane Street Group LLC acquired a new position in QuickLogic in the first quarter valued at approximately $87,000. XTX Topco Ltd acquired a new position in QuickLogic in the second quarter valued at approximately $171,000. Qube Research & Technologies Ltd boosted its holdings in QuickLogic by 40.6% in the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after purchasing an additional 28,751 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in QuickLogic by 2.8% in the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock valued at $1,295,000 after purchasing an additional 5,721 shares in the last quarter. 31.54% of the stock is owned by institutional investors and hedge funds.

QuickLogic Company Profile

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.