QuickLogic (NASDAQ:QUIK) Director Sells $16,615.69 in Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 1,729 shares of QuickLogic stock in a transaction on Tuesday, March 10th. The stock was sold at an average price of $9.61, for a total transaction of $16,615.69. Following the completion of the transaction, the director directly owned 41,153 shares in the company, valued at approximately $395,480.33. The trade was a 4.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

QuickLogic Trading Down 4.8%

QUIK traded down $0.45 during trading on Thursday, hitting $8.91. 193,006 shares of the stock traded hands, compared to its average volume of 189,818. The firm has a market capitalization of $152.27 million, a P/E ratio of -9.90 and a beta of 0.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14. The firm has a 50-day moving average of $7.79 and a 200 day moving average of $6.76. QuickLogic Corporation has a 12-month low of $4.26 and a 12-month high of $9.81.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings data 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). The firm had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.50 million. QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. Equities research analysts anticipate that QuickLogic Corporation will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC raised its position in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 4,902 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new stake in QuickLogic in the third quarter worth $71,000. Squarepoint Ops LLC purchased a new stake in QuickLogic in the fourth quarter worth $84,000. Jane Street Group LLC bought a new position in QuickLogic in the first quarter worth $87,000. Finally, Prospera Financial Services Inc purchased a new position in QuickLogic during the second quarter valued at $96,000. Hedge funds and other institutional investors own 31.54% of the company’s stock.

Wall Street Analyst Weigh In

QUIK has been the subject of a number of recent analyst reports. Lake Street Capital assumed coverage on QuickLogic in a research report on Monday, February 9th. They set a “buy” rating and a $10.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Finally, Northland Securities lowered QuickLogic from an “outperform” rating to a “market perform” rating in a research note on Wednesday, November 12th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, QuickLogic has a consensus rating of “Hold” and a consensus target price of $10.50.

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.