Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells $21,906.48 in Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 2,328 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $9.41, for a total value of $21,906.48. Following the sale, the director directly owned 42,882 shares of the company’s stock, valued at $403,519.62. This represents a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

QuickLogic Stock Performance

Shares of QUIK opened at $8.71 on Friday. The business has a 50-day simple moving average of $7.61 and a two-hundred day simple moving average of $6.68. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. QuickLogic Corporation has a 52 week low of $4.26 and a 52 week high of $9.59. The stock has a market cap of $148.85 million, a price-to-earnings ratio of -9.68 and a beta of 0.60.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). The company had revenue of $3.73 million for the quarter, compared to analysts’ expectations of $3.50 million. QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. On average, analysts expect that QuickLogic Corporation will post -0.29 EPS for the current year.

Hedge Funds Weigh In On QuickLogic

Institutional investors and hedge funds have recently made changes to their positions in the business. Prospera Financial Services Inc increased its holdings in shares of QuickLogic by 8.9% in the 3rd quarter. Prospera Financial Services Inc now owns 17,050 shares of the semiconductor company’s stock worth $103,000 after buying an additional 1,400 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of QuickLogic by 4.5% in the 4th quarter. Captrust Financial Advisors now owns 35,618 shares of the semiconductor company’s stock valued at $214,000 after acquiring an additional 1,547 shares during the last quarter. Perkins Capital Management Inc. grew its position in QuickLogic by 1.0% in the third quarter. Perkins Capital Management Inc. now owns 204,956 shares of the semiconductor company’s stock worth $1,242,000 after acquiring an additional 2,000 shares in the last quarter. State Street Corp grew its position in 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 acquiring an additional 3,100 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in QuickLogic by 246.5% during the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 4,902 shares during the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QUIK. Lake Street Capital initiated coverage on shares of QuickLogic in a research report on Monday, February 9th. They issued a “buy” rating and a $10.00 price target for the company. Northland Securities downgraded shares of QuickLogic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $10.50.

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.