QuickLogic (NASDAQ:QUIK) CFO Sells $68,770.68 in Stock

QuickLogic Corporation (NASDAQ:QUIK) CFO Elias Nader sold 10,813 shares of the stock in a transaction on Friday, December 5th. The stock was sold at an average price of $6.36, for a total value of $68,770.68. Following the completion of the sale, the chief financial officer directly owned 71,193 shares in the company, valued at approximately $452,787.48. This represents a 13.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Elias Nader also recently made the following trade(s):

• On Monday, December 8th, Elias Nader sold 5,687 shares of QuickLogic stock. The stock was sold at an average price of $6.30, for a total transaction of $35,828.10.
• On Friday, September 19th, Elias Nader sold 7,325 shares of QuickLogic stock. The shares were sold at an average price of $5.80, for a total transaction of $42,485.00.

QuickLogic Stock Up 1.8%

NASDAQ:QUIK traded up $0.11 on Tuesday, reaching $6.37. 51,379 shares of the stock traded hands, compared to its average volume of 201,597. 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 company has a market capitalization of $108.86 million, a price-to-earnings ratio of -11.18 and a beta of 0.85. QuickLogic Corporation has a 12 month low of $4.26 and a 12 month high of $13.36. The company’s fifty day simple moving average is $6.53 and its 200 day simple moving average is $6.10.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Wednesday, November 12th. The semiconductor company reported ($0.19) EPS for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. The firm had revenue of $2.03 million for the quarter, compared to analysts’ expectations of $2.05 million. QuickLogic had a negative net margin of 58.26% and a negative return on equity of 33.71%. Equities analysts predict that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Deutsche Bank AG grew its stake in shares of QuickLogic by 94.2% during the 1st quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company’s stock valued at $707,000 after purchasing an additional 67,110 shares during the period. Two Sigma Investments LP purchased a new position in shares of QuickLogic in the third quarter worth approximately $406,000. Heritage Financial Services LLC purchased a new position in shares of QuickLogic in the third quarter worth approximately $303,000. Qube Research & Technologies Ltd grew its position in QuickLogic by 40.6% during the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after buying an additional 28,751 shares during the period. Finally, Vanguard Group Inc. grew its position in QuickLogic by 4.6% during 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 during the period. 31.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

QUIK has been the topic of a number of research analyst reports. Northland Capmk downgraded QuickLogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Northland Securities lowered QuickLogic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of QuickLogic in a research note on Monday, December 1st. Finally, Wall Street Zen downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $11.30.

QuickLogic Company Profile

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.