Insider Selling: QuickLogic (NASDAQ:QUIK) CFO Sells 10,813 Shares of Stock

QuickLogic Corporation (NASDAQ:QUIK) CFO Elias Nader sold 10,813 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were sold at an average price of $6.36, for a total value of $68,770.68. Following the sale, the chief financial officer directly owned 71,193 shares of the company’s stock, valued at $452,787.48. This represents a 13.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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 value 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 value of $42,485.00.

QuickLogic Stock Performance

Shares of NASDAQ:QUIK traded up $0.11 during mid-day trading on Tuesday, reaching $6.37. 51,379 shares of the company traded hands, compared to its average volume of 201,597. The company’s 50 day moving average price is $6.53 and its 200-day moving average price is $6.10. The firm has a market cap of $108.86 million, a PE ratio of -11.18 and a beta of 0.85. QuickLogic Corporation has a 52 week low of $4.26 and a 52 week high of $13.36. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Wednesday, November 12th. The semiconductor company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.21) by $0.02. The business had revenue of $2.03 million for the quarter, compared to the consensus estimate of $2.05 million. QuickLogic had a negative net margin of 58.26% and a negative return on equity of 33.71%. On average, equities analysts expect that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On QuickLogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG grew its holdings in 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 buying an additional 67,110 shares in the last quarter. Two Sigma Investments LP purchased a new stake in shares of QuickLogic during the 3rd quarter worth approximately $406,000. Heritage Financial Services LLC bought a new position in shares of QuickLogic during the 3rd quarter valued at approximately $303,000. Qube Research & Technologies Ltd grew its holdings in shares of QuickLogic by 40.6% in the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after purchasing an additional 28,751 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of QuickLogic by 4.6% in the third quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock valued at $3,975,000 after purchasing an additional 28,587 shares in the last quarter. 31.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on QUIK. Weiss Ratings reissued a “sell (e+)” rating on shares of QuickLogic in a report on Monday, December 1st. Wall Street Zen cut QuickLogic from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Northland Securities cut QuickLogic from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 12th. Finally, Northland Capmk lowered shares of QuickLogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, QuickLogic currently 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.