Insider Selling: QuickLogic Co. (NASDAQ:QUIK) VP Sells 10,000 Shares of Stock

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the vice president now owns 108,004 shares in the company, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

QuickLogic Stock Up 2.5 %

Shares of QUIK traded up $0.17 during trading hours on Tuesday, hitting $7.05. The company had a trading volume of 240,386 shares, compared to its average volume of 229,787. The company has a market capitalization of $103.71 million, a PE ratio of -70.50 and a beta of 1.56. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average price is $7.85 and its two-hundred day moving average price is $9.70. QuickLogic Co. has a one year low of $6.82 and a one year high of $20.75.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The firm had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same period in the previous year, the company earned $0.08 earnings per share. As a group, equities analysts forecast that QuickLogic Co. will post 0.08 earnings per share for the current fiscal year.

Institutional Trading of QuickLogic

Hedge funds have recently added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in shares of QuickLogic by 29.9% in the first quarter. Acadian Asset Management LLC now owns 63,152 shares of the semiconductor company’s stock valued at $1,010,000 after buying an additional 14,520 shares in the last quarter. American Century Companies Inc. grew its stake in QuickLogic by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after acquiring an additional 3,750 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 38,273 shares during the last quarter. Raymond James & Associates increased its stake in shares of QuickLogic by 83.1% in the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after acquiring an additional 58,668 shares during the last quarter. Finally, Rhumbline Advisers purchased a new position in QuickLogic during the second quarter worth about $172,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Oppenheimer decreased their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Craig Hallum reduced their price objective on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. Finally, StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.