Insider Selling: QuickLogic (NASDAQ:QUIK) CEO Sells 41,480 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 41,480 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total value of $848,266.00. Following the transaction, the chief executive officer owned 228,412 shares in the company, valued at $4,671,025.40. The trade was a 15.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

QuickLogic Stock Performance

QUIK stock traded down $0.29 during trading hours on Thursday, hitting $20.17. 348,921 shares of the stock were exchanged, compared to its average volume of 335,687. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $367.70 million, a P/E ratio of -22.66 and a beta of 1.11. The company has a 50-day simple moving average of $12.87 and a two-hundred day simple moving average of $9.12. QuickLogic Corporation has a 12 month low of $4.80 and a 12 month high of $22.69.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The company had revenue of $5.05 million for the quarter, compared to analyst estimates of $5.51 million. QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%. On average, analysts forecast that QuickLogic Corporation will post -0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Lake Street Capital reissued a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Needham & Company LLC assumed coverage on QuickLogic in a report on Wednesday. They set a “buy” rating and a $22.00 target price on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Finally, Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two investment 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’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.

Institutional Trading of QuickLogic

Several large investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in QuickLogic by 4.6% in the third quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock valued at $3,975,000 after buying an additional 28,587 shares in the last quarter. Royal Bank of Canada boosted its stake in 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 in the last quarter. Perkins Capital Management Inc. boosted its stake in QuickLogic by 11.2% in the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock valued at $2,877,000 after buying an additional 31,000 shares in the last quarter. Raymond James Financial Inc. boosted its stake in QuickLogic by 2.8% in the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock valued at $1,295,000 after buying an additional 5,721 shares in the last quarter. Finally, Cadent Capital Advisors LLC acquired a new stake in QuickLogic in the fourth quarter valued at about $1,036,000. 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 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.