Timothy Saxe Sells 10,000 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the sale, the vice president now owns 108,004 shares of the company’s stock, valued at $750,627.80. The trade was a 8.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

QuickLogic Stock Up 6.2 %

Shares of NASDAQ:QUIK opened at $7.52 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The business has a fifty day moving average of $7.84 and a two-hundred day moving average of $9.62. The stock has a market cap of $110.62 million, a P/E ratio of -75.20 and a beta of 1.56. QuickLogic Co. has a 52-week low of $6.75 and a 52-week high of $20.75.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The business had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same period last year, the company earned $0.08 EPS. On average, research analysts expect that QuickLogic Co. will post 0.08 earnings per share for the current year.

Hedge Funds Weigh In On QuickLogic

Several large investors have recently modified their holdings of QUIK. Raymond James & Associates lifted its stake 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 last quarter. Marshall Wace LLP lifted its stake in shares of QuickLogic by 118.4% in the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 38,273 shares during the last quarter. Squarepoint Ops LLC lifted its stake in shares of QuickLogic by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after purchasing an additional 36,409 shares during the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of QuickLogic in the 1st quarter valued at $447,000. Institutional investors and hedge funds own 31.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on QUIK shares. Oppenheimer dropped their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Craig Hallum dropped their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, StockNews.com upgraded QuickLogic to a “sell” rating in a report on Wednesday.

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.