Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells $16,615.69 in Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 1,729 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $9.61, for a total value of $16,615.69. Following the completion of the sale, the director directly owned 41,153 shares in the company, valued at approximately $395,480.33. The trade was a 4.03% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuickLogic Price Performance

Shares of NASDAQ QUIK traded down $0.45 during midday trading on Thursday, hitting $8.91. 193,006 shares of the company’s stock were exchanged, compared to its average volume of 189,818. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 0.02. The business’s fifty day moving average price is $7.79 and its two-hundred day moving average price is $6.76. The company has a market cap of $152.27 million, a price-to-earnings ratio of -9.90 and a beta of 0.60. QuickLogic Corporation has a 12-month low of $4.26 and a 12-month high of $9.81.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share 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 company had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.50 million. As a group, research analysts forecast that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Institutional Trading of QuickLogic

Several institutional investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake in shares of QuickLogic by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock valued at $282,000 after buying an additional 21,275 shares during the last quarter. Jane Street Group LLC purchased a new stake in QuickLogic during the 1st quarter valued at about $87,000. Prospera Financial Services Inc bought a new position in QuickLogic during the 2nd quarter worth approximately $96,000. XTX Topco Ltd bought a new position in QuickLogic during the 2nd quarter worth approximately $171,000. Finally, Qube Research & Technologies Ltd increased its stake in QuickLogic by 40.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock worth $613,000 after purchasing an additional 28,751 shares during the period. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

QuickLogic Company Profile

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.