QuickLogic (NASDAQ:QUIK) Director Sells 1,813 Shares

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 1,813 shares of the firm’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $9.91, for a total value of $17,966.83. Following the sale, the director directly owned 39,340 shares of the company’s stock, valued at $389,859.40. The trade was a 4.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

QuickLogic Trading Up 2.5%

NASDAQ QUIK traded up $0.23 during trading hours on Thursday, reaching $9.48. The company had a trading volume of 191,045 shares, compared to its average volume of 195,352. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. The stock has a market capitalization of $162.01 million, a P/E ratio of -10.53 and a beta of 0.60. The stock has a 50-day moving average of $8.02 and a 200 day moving average of $6.89. QuickLogic Corporation has a 1-year low of $4.26 and a 1-year high of $10.14.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results 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). QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. The company had revenue of $3.73 million for the quarter, compared to analyst estimates of $3.50 million. As a group, research analysts anticipate that QuickLogic Corporation will post -0.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

QUIK has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Monday, December 29th. Lake Street Capital began coverage on QuickLogic in a research note on Monday, February 9th. They issued a “buy” rating and a $10.00 price objective for the company. 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 stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.50.

Institutional Investors Weigh In On QuickLogic

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. lifted its holdings in QuickLogic by 62.8% during the 1st 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 shares of QuickLogic in the first quarter worth $87,000. XTX Topco Ltd purchased a new stake in shares of QuickLogic during the second quarter worth $171,000. Qube Research & Technologies Ltd increased its position in shares of QuickLogic by 40.6% during the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock worth $613,000 after acquiring an additional 28,751 shares during the period. Finally, Raymond James Financial Inc. raised its stake in shares of 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 acquiring an additional 5,721 shares in the last quarter. 31.54% of the stock is 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.