QuickLogic Co. (NASDAQ:QUIK) CEO Sells $158,160.78 in Stock

QuickLogic Co. (NASDAQ:QUIK) CEO Brian C. Faith sold 21,402 shares of QuickLogic stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the completion of the sale, the chief executive officer now owns 193,584 shares of the company’s stock, valued at $1,430,585.76. This trade represents a 9.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuickLogic Price Performance

Shares of QuickLogic stock opened at $7.41 on Wednesday. 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 firm has a fifty day simple moving average of $7.89 and a 200-day simple moving average of $9.18. The stock has a market capitalization of $108.98 million, a price-to-earnings ratio of -74.10 and a beta of 1.59. QuickLogic Co. has a 1-year low of $6.75 and a 1-year high of $20.75.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $4.27 million for the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same quarter last year, the company earned $0.08 earnings per share. On average, sell-side analysts expect that QuickLogic Co. will post -0.29 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Trading of QuickLogic

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its position in QuickLogic by 15.6% in the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after buying an additional 26,774 shares during the period. Raymond James & Associates grew its stake in shares of QuickLogic by 83.1% in the second 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. Marshall Wace LLP increased its position in QuickLogic by 118.4% during the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after acquiring an additional 39,878 shares during the period. Bank of New York Mellon Corp raised its stake in QuickLogic by 142.9% during the 2nd 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. Finally, Squarepoint Ops LLC boosted its holdings in QuickLogic by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after purchasing an additional 36,409 shares during the period. Institutional investors own 31.54% of the company’s stock.

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.