Elias Nader Sells 8,711 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) CFO Elias Nader sold 8,711 shares of the stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the transaction, the chief financial officer now directly owns 60,955 shares of the company’s stock, valued at $450,457.45. The trade was a 12.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QuickLogic Stock Up 1.3 %

QuickLogic stock traded up $0.10 during trading on Monday, reaching $7.60. The stock had a trading volume of 124,792 shares, compared to its average volume of 224,558. QuickLogic Co. has a 52-week low of $6.75 and a 52-week high of $20.75. The business has a 50 day moving average price of $7.89 and a 200 day moving average price of $9.21. 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 stock has a market cap of $111.80 million, a PE ratio of -76.00 and a beta of 1.59.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The firm had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same quarter in the previous year, the firm posted $0.08 EPS. On average, analysts predict that QuickLogic Co. will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded QuickLogic to a “sell” rating in a report on Monday, December 2nd. Oppenheimer dropped their price target on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th. Finally, Craig Hallum lowered 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.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QUIK. Acuitas Investments LLC lifted its stake in QuickLogic by 54.0% during the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after purchasing an additional 3,400 shares during the last quarter. Quest Partners LLC raised its holdings in QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares in the last quarter. XTX Topco Ltd purchased a new stake in shares of QuickLogic during the 2nd quarter worth approximately $127,000. Cutter & CO Brokerage Inc. purchased a new stake in shares of QuickLogic during the 3rd quarter worth approximately $106,000. Finally, Rhumbline Advisers acquired a new position in shares of QuickLogic in the 2nd quarter valued at $172,000. Hedge funds and other institutional investors own 31.54% of the company’s stock.

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.