QuickLogic Co. (NASDAQ:QUIK) CFO Sells $15,117.90 in Stock

QuickLogic Co. (NASDAQ:QUIK) CFO Elias Nader sold 1,878 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $8.05, for a total transaction of $15,117.90. Following the completion of the sale, the chief financial officer now owns 48,803 shares of the company’s stock, valued at approximately $392,864.15. The transaction was disclosed in a document filed with the SEC, which is available at this link.

QuickLogic Trading Down 1.9 %

QUIK opened at $8.77 on Friday. The firm has a 50 day simple moving average of $10.52 and a 200 day simple moving average of $12.66. QuickLogic Co. has a fifty-two week low of $7.25 and a fifty-two week high of $20.75. The company has a market cap of $126.50 million, a price-to-earnings ratio of 146.17 and a beta of 1.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.24 and a quick ratio of 1.17.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Tuesday, August 13th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.06). The company had revenue of $4.13 million during the quarter, compared to the consensus estimate of $4.50 million. QuickLogic had a return on equity of 6.57% and a net margin of 4.65%. During the same quarter in the prior year, the business earned ($0.17) earnings per share. On average, sell-side analysts anticipate that QuickLogic Co. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

QUIK has been the topic of several research analyst reports. StockNews.com cut shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday. Craig Hallum lowered their target price on QuickLogic from $16.00 to $12.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Oppenheimer dropped their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday.

Institutional Trading of QuickLogic

A number of hedge funds have recently modified their holdings of QUIK. Essex Investment Management Co. LLC acquired a new position in QuickLogic in the first quarter valued at about $1,719,000. Raymond James & Associates grew its position in shares of QuickLogic by 83.1% in the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock valued at $1,343,000 after purchasing an additional 58,668 shares during the period. Marshall Wace LLP increased its stake in QuickLogic by 118.4% during the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after purchasing an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in QuickLogic by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after buying an additional 38,273 shares during the period. Finally, Squarepoint Ops LLC lifted its stake in QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after buying an additional 36,409 shares in the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

About QuickLogic

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.