Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells $16,615.69 in Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 1,729 shares of the stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.61, for a total value of $16,615.69. Following the completion of the sale, the director directly owned 41,153 shares in the company, valued at approximately $395,480.33. This represents a 4.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

QuickLogic Price Performance

QUIK opened at $9.00 on Friday. The stock has a 50-day moving average price of $7.90 and a 200-day moving average price of $6.81. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14. The firm has a market cap of $153.81 million, a PE ratio of -10.00 and a beta of 0.60. QuickLogic Corporation has a 1 year low of $4.26 and a 1 year high of $9.81.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, March 3rd. The semiconductor company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The firm had revenue of $3.73 million for the quarter, compared to analysts’ expectations of $3.50 million. QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. Sell-side analysts predict that QuickLogic Corporation will post -0.29 earnings per share for the current fiscal year.

Hedge Funds Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently made changes to their positions in QUIK. Cadent Capital Advisors LLC bought a new stake in QuickLogic during the fourth quarter valued at approximately $1,036,000. Perkins Capital Management Inc. raised its position in QuickLogic by 34.5% in the fourth 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 period. Two Sigma Investments LP purchased a new position in shares of QuickLogic during the 3rd quarter worth $406,000. Heritage Financial Services LLC purchased a new position in shares of QuickLogic during the 3rd quarter worth $303,000. Finally, Jane Street Group LLC grew its position in shares of QuickLogic by 245.2% during the 4th quarter. Jane Street Group LLC now owns 47,906 shares of the semiconductor company’s stock valued at $288,000 after acquiring an additional 34,029 shares during the period. Hedge funds and other institutional investors own 31.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on QUIK. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Lake Street Capital started coverage on shares of QuickLogic in a report on Monday, February 9th. They issued a “buy” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $10.50.

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.