QuickLogic (NASDAQ:QUIK) CFO Elias Nader Sells 12,152 Shares

QuickLogic Corporation (NASDAQ:QUIK) CFO Elias Nader sold 12,152 shares of the company’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $10.80, for a total value of $131,241.60. Following the completion of the transaction, the chief financial officer directly owned 82,255 shares of the company’s stock, valued at approximately $888,354. The trade was a 12.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

QuickLogic Trading Down 4.5%

QuickLogic stock traded down $0.49 during trading hours on Monday, hitting $10.33. The stock had a trading volume of 264,379 shares, compared to its average volume of 351,843. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03. The stock has a market cap of $189.25 million, a price-to-earnings ratio of -13.42 and a beta of 1.20. QuickLogic Corporation has a one year low of $5.28 and a one year high of $24.33. The business’s 50 day simple moving average is $12.74 and its 200-day simple moving average is $14.20.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $6.00 million. On average, equities analysts predict that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On QuickLogic

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada increased its stake in shares of QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock valued at $3,266,000 after buying an additional 345,762 shares during the period. Perkins Capital Management Inc. lifted its stake in shares of QuickLogic by 11.2% in the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock worth $2,877,000 after acquiring an additional 31,000 shares during the period. Themes Management Co LLC acquired a new position in shares of QuickLogic in the first quarter worth approximately $1,309,000. Sei Investments Co. bought a new stake in QuickLogic in the first quarter valued at approximately $987,000. Finally, Bank of New York Mellon Corp bought a new stake in QuickLogic in the second quarter valued at approximately $754,000. Institutional investors own 31.54% of the company’s stock.

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.