QuickLogic (NASDAQ:QUIK) Director Sells $110,000.00 in Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Joyce Kim sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total value of $110,000.00. Following the completion of the transaction, the director owned 2,140 shares of the company’s stock, valued at approximately $42,800. The trade was a 71.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

QuickLogic Trading Down 0.3%

Shares of NASDAQ:QUIK opened at $20.11 on Friday. QuickLogic Corporation has a 52-week low of $4.80 and a 52-week high of $22.69. The stock has a market cap of $366.61 million, a price-to-earnings ratio of -22.60 and a beta of 1.11. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $13.30 and a 200-day moving average price of $9.28.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%.The firm had revenue of $5.05 million during the quarter, compared to analysts’ expectations of $5.51 million. Equities analysts predict that QuickLogic Corporation will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on QUIK. Needham & Company LLC began coverage on QuickLogic in a research note on Wednesday. They issued a “buy” rating and a $22.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Lake Street Capital restated a “buy” rating and issued a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Two equities 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 company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.00.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of QUIK. Goldman Sachs Group Inc. raised its position in QuickLogic by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock valued at $282,000 after acquiring an additional 21,275 shares in the last quarter. Jane Street Group LLC purchased a new position in QuickLogic during the first quarter valued at approximately $87,000. XTX Topco Ltd purchased a new position in QuickLogic during the second quarter valued at approximately $171,000. Qube Research & Technologies Ltd raised its position in QuickLogic by 40.6% during the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after acquiring an additional 28,751 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in QuickLogic by 2.8% during the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock valued at $1,295,000 after acquiring an additional 5,721 shares in the last quarter. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

QuickLogic Company Profile

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.