QuickLogic Corporation (NASDAQ:QUIK) Sees Large Increase in Short Interest

QuickLogic Corporation (NASDAQ:QUIK) was the recipient of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 1,438,582 shares, a growth of 80.0% from the June 15th total of 799,032 shares. Based on an average daily trading volume, of 640,870 shares, the short-interest ratio is currently 2.2 days. Approximately 8.2% of the company’s stock are short sold.

Insider Buying and Selling

In related news, Director Joyce Kim sold 5,500 shares of QuickLogic stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $20.00, for a total transaction of $110,000.00. Following the sale, the director owned 2,140 shares of the company’s stock, valued at $42,800. The trade was a 71.99% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Brian C. Faith sold 41,480 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was 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 owned 228,412 shares in the company, valued at $4,671,025.40. This represents a 15.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,175 shares of company stock valued at $1,000,410 in the last quarter. Company insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC grew its stake in QuickLogic by 246.5% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 4,902 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in QuickLogic during the fourth quarter valued at approximately $84,000. Jane Street Group LLC acquired a new stake in QuickLogic during the first quarter valued at approximately $87,000. Dimensional Fund Advisors LP bought a new position in QuickLogic during the 4th quarter worth approximately $102,000. Finally, Stratos Wealth Advisors LLC lifted its holdings in QuickLogic by 55.5% during the 4th quarter. Stratos Wealth Advisors LLC now owns 18,235 shares of the semiconductor company’s stock worth $110,000 after buying an additional 6,510 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

QuickLogic Trading Down 8.0%

QUIK opened at $13.03 on Friday. QuickLogic has a 12-month low of $4.80 and a 12-month high of $24.33. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.53. The stock has a market capitalization of $237.54 million, a PE ratio of -14.64 and a beta of 1.17. The firm’s fifty day moving average price is $19.33 and its 200 day moving average price is $12.82.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $5.05 million for the quarter, compared to analyst estimates of $5.51 million. QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%. As a group, research analysts expect that QuickLogic will post -0.23 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on QUIK. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Lake Street Capital reissued a “buy” rating and issued a $22.00 price target (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Finally, Needham & Company LLC started coverage on QuickLogic in a report on Wednesday, May 20th. They set a “buy” rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, QuickLogic currently has a consensus rating of “Hold” and a consensus 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.