QuickLogic (NASDAQ:QUIK) Director Gary Tauss Sells 1,500 Shares

QuickLogic Corporation (NASDAQ:QUIK) Director Gary Tauss sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $10.44, for a total value of $15,660.00. Following the transaction, the director directly owned 19,654 shares of the company’s stock, valued at $205,187.76. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuickLogic Stock Down 1.9%

QUIK opened at $10.01 on Thursday. The company has a current ratio of 2.15, a quick ratio of 2.06 and a debt-to-equity ratio of 0.03. QuickLogic Corporation has a 1-year low of $5.28 and a 1-year high of $24.33. The business has a 50 day moving average of $12.41 and a 200-day moving average of $14.25. The stock has a market capitalization of $183.38 million, a price-to-earnings ratio of -13.00 and a beta of 1.20.

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

Institutional Investors Weigh In On QuickLogic

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Prospera Financial Services Inc increased its position in shares of QuickLogic by 59.5% during the 4th quarter. Prospera Financial Services Inc now owns 27,200 shares of the semiconductor company’s stock worth $163,000 after purchasing an additional 10,150 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of QuickLogic in the first quarter valued at about $111,000. SEB Asset Management AB bought a new position in QuickLogic in the 1st quarter valued at about $129,000. OMERS ADMINISTRATION Corp bought a new position in shares of QuickLogic during the first quarter worth approximately $151,000. Finally, Maridea Wealth Management LLC acquired a new stake in shares of QuickLogic during the first quarter worth $161,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.