Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells $15,660.00 in Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Gary Tauss sold 1,500 shares of the business’s stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $10.44, for a total transaction of $15,660.00. Following the transaction, the director directly owned 19,654 shares of the company’s stock, valued at approximately $205,187.76. This represents a 7.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuickLogic Trading Up 1.9%

Shares of NASDAQ:QUIK opened at $10.72 on Friday. The company has a market cap of $196.39 million, a P/E ratio of -13.92 and a beta of 1.20. The stock’s 50-day moving average is $12.19 and its 200-day moving average is $14.24. QuickLogic Corporation has a 52-week low of $5.28 and a 52-week high of $24.33. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.06 and a current ratio of 2.15.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data 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). The business had revenue of $5.48 million for the quarter, compared to analyst estimates of $6.00 million. QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%. Equities research analysts predict that QuickLogic Corporation will post -0.26 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on QUIK shares. Needham & Company LLC lowered their price objective on shares of QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $21.00.

Hedge Funds Weigh In On QuickLogic

Large investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of QuickLogic during the second quarter valued at approximately $754,000. Bank of America Corp DE boosted 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 in the last quarter. Royal Bank of Canada increased its holdings in QuickLogic by 14,694.5% in the 1st 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. OMERS ADMINISTRATION Corp acquired a new position in shares of QuickLogic in the 1st quarter valued at $151,000. Finally, Themes Management Co LLC acquired a new position in shares of QuickLogic in the 1st quarter valued at $1,309,000. Institutional investors and hedge funds own 31.54% of the company’s stock.

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.