Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells 5,500 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Joyce Kim sold 5,500 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $20.00, for a total transaction of $110,000.00. Following the transaction, the director owned 2,140 shares in the company, valued at approximately $42,800. This represents a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

QuickLogic Stock Down 1.4%

Shares of QuickLogic stock traded down $0.29 on Thursday, hitting $20.17. 348,921 shares of the company traded hands, compared to its average volume of 335,687. The company has a 50-day moving average price of $12.87 and a 200 day moving average price of $9.12. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. QuickLogic Corporation has a 12-month low of $4.80 and a 12-month high of $22.69. The company has a market cap of $367.70 million, a PE ratio of -22.66 and a beta of 1.11.

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Finally, Needham & Company LLC assumed coverage on shares of QuickLogic in a research note on Wednesday. They issued a “buy” rating and a $22.00 price objective for the company. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, QuickLogic currently has an average rating of “Hold” and a consensus target price of $22.00.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of QUIK. Royal Bank of Canada lifted its position in QuickLogic by 14,694.5% during the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after acquiring an additional 345,762 shares during the last quarter. Cadent Capital Advisors LLC acquired a new position in QuickLogic during the 4th quarter worth $1,036,000. Themes Management Co LLC acquired a new position in QuickLogic during the 1st quarter worth $1,309,000. Sei Investments Co. acquired a new position in QuickLogic during the 1st quarter worth $987,000. Finally, Perkins Capital Management Inc. lifted its position in QuickLogic by 34.5% during the 4th quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock worth $1,657,000 after acquiring an additional 70,750 shares during the last quarter. Institutional investors and hedge funds 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.