Insider Selling: QuickLogic (NASDAQ:QUIK) VP Sells 10,364 Shares

QuickLogic Corporation (NASDAQ:QUIK) VP Timothy Saxe sold 10,364 shares of the business’s stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $10.21, for a total value of $105,816.44. Following the sale, the vice president directly owned 152,214 shares of the company’s stock, valued at $1,554,104.94. This represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Timothy Saxe also recently made the following trade(s):

• On Thursday, September 10th, Timothy Saxe sold 15,190 shares of QuickLogic stock. The stock was sold at an average price of $10.80, for a total transaction of $164,052.00.

QuickLogic Stock Up 1.9%

QUIK stock traded up $0.20 during trading on Friday, reaching $10.72. The stock had a trading volume of 255,500 shares, compared to its average volume of 350,068. QuickLogic Corporation has a one year low of $5.28 and a one year high of $24.33. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03. The company’s 50 day moving average is $12.29 and its two-hundred day moving average is $14.26. The company has a market capitalization of $196.37 million, a price-to-earnings ratio of -13.92 and a beta of 1.20.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The business had revenue of $5.48 million for the quarter, compared to analysts’ expectations of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. Equities research analysts forecast that QuickLogic Corporation will post -0.26 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on QUIK. Needham & Company LLC decreased 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 restated a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $21.00.

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently bought and sold shares of the company. Prospera Financial Services Inc raised its holdings in QuickLogic by 59.5% during the 4th quarter. Prospera Financial Services Inc now owns 27,200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 10,150 shares during the period. Cetera Investment Advisers bought a new position in shares of QuickLogic in the first quarter worth $111,000. SEB Asset Management AB purchased a new position in shares of QuickLogic in the first quarter valued at $129,000. OMERS ADMINISTRATION Corp purchased a new position in shares of QuickLogic in the first quarter valued at $151,000. Finally, Maridea Wealth Management LLC bought a new stake in shares of QuickLogic during the 1st quarter valued at $161,000. 31.54% of the stock is owned by institutional investors.

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.