Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells 2,328 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 2,328 shares of the business’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $9.41, for a total transaction of $21,906.48. Following the transaction, the director directly owned 42,882 shares in the company, valued at approximately $403,519.62. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

QuickLogic Stock Down 0.2%

QuickLogic stock traded down $0.02 during midday trading on Thursday, hitting $8.78. 203,054 shares of the stock were exchanged, compared to its average volume of 184,250. QuickLogic Corporation has a 1 year low of $4.26 and a 1 year high of $9.59. The firm has a market cap of $150.05 million, a P/E ratio of -9.76 and a beta of 0.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14. The company has a 50 day moving average price of $7.56 and a two-hundred day moving average price of $6.66.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. The business had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.50 million. On average, sell-side analysts predict that QuickLogic Corporation will post -0.29 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd bought a new position in QuickLogic during the 4th quarter worth $166,000. Captrust Financial Advisors grew its position in shares of QuickLogic by 4.5% during the fourth quarter. Captrust Financial Advisors now owns 35,618 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 1,547 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in shares of QuickLogic in the 4th quarter worth about $84,000. State Street Corp lifted its position in QuickLogic by 5.0% in the 4th quarter. State Street Corp now owns 65,056 shares of the semiconductor company’s stock valued at $391,000 after purchasing an additional 3,100 shares during the last quarter. Finally, Jane Street Group LLC boosted its stake in QuickLogic by 245.2% during the 4th quarter. Jane Street Group LLC now owns 47,906 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 34,029 shares during the period. Institutional investors and hedge funds own 31.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on QUIK shares. Lake Street Capital initiated coverage on shares of QuickLogic in a report on Monday, February 9th. They issued a “buy” rating and a $10.00 price target on the stock. Northland Securities lowered shares of QuickLogic from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 12th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $10.50.

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.