Insider Selling: QuickLogic (NASDAQ:QUIK) VP Sells $164,052.00 in Stock

QuickLogic Corporation (NASDAQ:QUIK) VP Timothy Saxe sold 15,190 shares of the company’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total value of $164,052.00. Following the sale, the vice president directly owned 143,976 shares of the company’s stock, valued at approximately $1,554,940.80. This represents a 9.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

QuickLogic Trading Down 1.9%

Shares of QUIK stock opened at $10.01 on Thursday. The business’s 50 day moving average is $12.41 and its two-hundred day moving average is $14.25. QuickLogic Corporation has a twelve month low of $5.28 and a twelve month high of $24.33. The company has a market capitalization of $183.38 million, a P/E ratio of -13.00 and a beta of 1.20. The company has a current ratio of 2.15, a quick ratio of 2.06 and a debt-to-equity ratio of 0.03.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. The company had revenue of $5.48 million during the quarter, compared to analyst estimates of $6.00 million. Equities analysts forecast that QuickLogic Corporation will post -0.26 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Needham & Company LLC lowered their target price on shares of QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a report on Wednesday, August 12th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $21.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Cetera Investment Advisers acquired a new stake in QuickLogic in the first quarter valued at $111,000. SEB Asset Management AB acquired a new position in shares of QuickLogic during the 1st quarter worth $129,000. OMERS ADMINISTRATION Corp purchased a new position in shares of QuickLogic in the 1st quarter valued at about $151,000. Maridea Wealth Management LLC acquired a new stake in shares of QuickLogic in the first quarter valued at about $161,000. Finally, Prospera Financial Services Inc lifted its stake in shares of QuickLogic by 59.5% in the fourth quarter. Prospera Financial Services Inc now owns 27,200 shares of the semiconductor company’s stock valued at $163,000 after purchasing an additional 10,150 shares during the period. Hedge funds and other institutional investors own 31.54% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops customizable, low-power semiconductor solutions and intellectual property for consumer, industrial, communications, and other electronic devices. Its technologies are designed to help manufacturers add processing, connectivity, display, and sensor capabilities while reducing development time and power consumption.

The company’s offerings include embedded FPGA (eFPGA) intellectual property, which allows programmable logic to be integrated directly into a system-on-chip, as well as customer-specific standard products and related semiconductor solutions.