QuickLogic (NASDAQ:QUIK) CFO Elias Nader Sells 8,291 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) CFO Elias Nader sold 8,291 shares of the company’s stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.21, for a total transaction of $84,651.11. Following the completion of the transaction, the chief financial officer owned 88,845 shares of the company’s stock, valued at $907,107.45. This trade represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Elias Nader also recently made the following trade(s):

• On Thursday, September 10th, Elias Nader sold 12,152 shares of QuickLogic stock. The stock was sold at an average price of $10.80, for a total transaction of $131,241.60.

QuickLogic Stock Up 1.9%

QUIK traded up $0.20 on Friday, hitting $10.72. The company had a trading volume of 255,500 shares, compared to its average volume of 350,068. The stock has a fifty day simple moving average of $12.29 and a 200-day simple moving average of $14.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 2.06. The firm has a market capitalization of $196.37 million, a P/E ratio of -13.92 and a beta of 1.20. QuickLogic Corporation has a 52-week low of $5.28 and a 52-week high of $24.33.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $5.48 million for the quarter, compared to analysts’ expectations of $6.00 million. As a group, equities analysts expect that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On QuickLogic

Several large investors have recently made changes to their positions in QUIK. Prospera Financial Services Inc boosted its position in shares of QuickLogic by 59.5% in 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 in the last quarter. Cetera Investment Advisers bought a new position in QuickLogic during the 1st quarter valued at approximately $111,000. SEB Asset Management AB bought a new position in QuickLogic during the 1st quarter valued at approximately $129,000. OMERS ADMINISTRATION Corp purchased a new position in QuickLogic during the first quarter valued at $151,000. Finally, Maridea Wealth Management LLC purchased a new position in QuickLogic during the first quarter valued at $161,000. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Needham & Company LLC dropped their target price on shares of QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two 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.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

About QuickLogic

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.