Insider Selling: QuickLogic (NASDAQ:QUIK) Director Sells 2,195 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Gary Tauss sold 2,195 shares of QuickLogic stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.20, for a total transaction of $42,144.00. Following the sale, the director owned 15,908 shares of the company’s stock, valued at approximately $305,433.60. The trade was a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

QuickLogic Price Performance

Shares of QUIK traded down $0.64 during mid-day trading on Monday, reaching $18.46. 816,989 shares of the company’s stock were exchanged, compared to its average volume of 328,045. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a 50-day simple moving average of $12.45 and a two-hundred day simple moving average of $8.95. QuickLogic Corporation has a 52-week low of $4.80 and a 52-week high of $22.69. The company has a market cap of $336.53 million, a price-to-earnings ratio of -20.74 and a beta of 1.11.

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

Hedge Funds Weigh In On QuickLogic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Prospera Financial Services Inc lifted its position in shares of QuickLogic by 8.9% during the third quarter. Prospera Financial Services Inc now owns 17,050 shares of the semiconductor company’s stock worth $103,000 after purchasing an additional 1,400 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of QuickLogic by 4.5% during the fourth quarter. Captrust Financial Advisors now owns 35,618 shares of the semiconductor company’s stock worth $214,000 after purchasing an additional 1,547 shares during the last quarter. Perkins Capital Management Inc. raised its holdings in shares of QuickLogic by 1.0% during the third quarter. Perkins Capital Management Inc. now owns 204,956 shares of the semiconductor company’s stock worth $1,242,000 after purchasing an additional 2,000 shares during the period. State Street Corp lifted its holdings in QuickLogic by 5.0% in the fourth quarter. State Street Corp now owns 65,056 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 4,902 shares during the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Lake Street Capital reissued a “buy” rating and set a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

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.