Michael Farese Sells 2,328 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 2,328 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $9.41, for a total transaction of $21,906.48. Following the completion of the transaction, the director owned 42,882 shares in the company, valued at $403,519.62. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

QuickLogic Stock Performance

Shares of NASDAQ:QUIK opened at $8.71 on Friday. The firm’s 50 day simple moving average is $7.61 and its 200-day simple moving average is $6.68. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.14 and a current ratio of 1.18. QuickLogic Corporation has a one year low of $4.26 and a one year high of $9.59. The firm has a market cap of $148.85 million, a PE ratio of -9.68 and a beta of 0.60.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. The firm had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.50 million. As a group, equities analysts predict that QuickLogic Corporation will post -0.29 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Lake Street Capital started coverage on QuickLogic in a report on Monday, February 9th. They issued a “buy” rating and a $10.00 target price for the company. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Monday, December 29th. Finally, Northland Securities downgraded QuickLogic from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 12th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $10.50.

Hedge Funds Weigh In On QuickLogic

A number of large investors have recently bought and sold shares of QUIK. Goldman Sachs Group Inc. raised its stake in QuickLogic by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock worth $282,000 after buying an additional 21,275 shares in the last quarter. Jane Street Group LLC bought a new stake in QuickLogic during the 1st quarter valued at $87,000. Y Intercept Hong Kong Ltd purchased a new position in shares of QuickLogic in the 2nd quarter valued at $149,000. Prospera Financial Services Inc bought a new position in shares of QuickLogic in the 2nd quarter worth $96,000. Finally, XTX Topco Ltd bought a new position in shares of QuickLogic in the 2nd quarter worth $171,000. Institutional investors own 31.54% of the company’s stock.

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.