Insider Selling: QuickLogic (NASDAQ:QUIK) CEO Sells $273,153.60 in Stock

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 25,292 shares of the company’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $10.80, for a total transaction of $273,153.60. Following the transaction, the chief executive officer directly owned 255,791 shares of the company’s stock, valued at $2,762,542.80. This represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

QuickLogic Stock Down 1.9%

QUIK stock opened at $10.01 on Thursday. QuickLogic Corporation has a twelve month low of $5.28 and a twelve month high of $24.33. The company has a market cap of $183.38 million, a PE ratio of -13.00 and a beta of 1.20. The business’s 50-day simple moving average is $12.41 and its 200 day simple moving average is $14.25. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate 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 firm had revenue of $5.48 million during the quarter, compared to analyst estimates of $6.00 million. On average, research analysts anticipate that QuickLogic Corporation will post -0.26 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC reduced their target price on QuickLogic from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Wednesday, August 12th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Two equities 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $21.00.

Institutional Investors Weigh In On QuickLogic

A number of institutional investors have recently added to or reduced their stakes in QUIK. Bank of New York Mellon Corp bought a new position in QuickLogic during the 2nd quarter valued at about $754,000. Bank of America Corp DE grew its stake in QuickLogic by 382.8% during the first quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company’s stock worth $270,000 after buying an additional 22,812 shares during the last quarter. Royal Bank of Canada increased its holdings in shares of QuickLogic by 14,694.5% during the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after buying an additional 345,762 shares in the last quarter. OMERS ADMINISTRATION Corp bought a new position in shares of QuickLogic in the first quarter valued at approximately $151,000. Finally, Themes Management Co LLC bought a new position in shares of QuickLogic in the first quarter valued at approximately $1,309,000. 31.54% of the stock is owned by institutional investors and hedge funds.

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.