Insider Selling: QuickLogic (NASDAQ:QUIK) CEO Sells $176,173.55 in Stock

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 17,255 shares of QuickLogic stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $10.21, for a total value of $176,173.55. Following the completion of the sale, the chief executive officer directly owned 271,065 shares in the company, valued at approximately $2,767,573.65. The trade was a 5.98% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuickLogic Price Performance

Shares of NASDAQ QUIK traded up $0.20 during midday trading on Friday, reaching $10.72. 255,500 shares of the stock traded hands, compared to its average volume of 350,068. The company’s 50 day moving average is $12.29 and its 200 day moving average is $14.26. QuickLogic Corporation has a one year low of $5.28 and a one year high of $24.33. The stock has a market capitalization of $196.37 million, a PE ratio of -13.92 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 2.06.

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

Analysts Set New Price Targets

A number of research analysts recently commented on QUIK shares. Needham & Company LLC lowered their price target on shares of QuickLogic from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, QuickLogic presently has a consensus rating of “Hold” and an average price target of $21.00.

Institutional Trading of QuickLogic

A number of institutional investors have recently bought and sold shares of the stock. Prospera Financial Services Inc increased its position in QuickLogic by 59.5% during the fourth quarter. Prospera Financial Services Inc now owns 27,200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 10,150 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of QuickLogic in the 1st quarter worth about $111,000. SEB Asset Management AB purchased a new position in shares of QuickLogic during the 1st quarter worth about $129,000. OMERS ADMINISTRATION Corp purchased a new position in shares of QuickLogic during the 1st quarter worth about $151,000. Finally, Maridea Wealth Management LLC bought a new position in QuickLogic during the 1st quarter valued at about $161,000. 31.54% of the stock is currently owned by institutional investors.

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.