Elias Nader Sells 12,152 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) CFO Elias Nader sold 12,152 shares of the company’s stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total transaction of $131,241.60. Following the completion of the sale, the chief financial officer directly owned 82,255 shares in the company, valued at approximately $888,354. This represents a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

QuickLogic Trading Down 4.5%

Shares of QUIK traded down $0.49 during trading hours on Monday, hitting $10.33. 264,379 shares of the stock were exchanged, compared to its average volume of 351,843. QuickLogic Corporation has a fifty-two week low of $5.28 and a fifty-two week high of $24.33. The business has a 50-day moving average of $12.74 and a 200-day moving average of $14.20. The firm has a market capitalization of $189.25 million, a P/E ratio of -13.42 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 2.06.

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 the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $5.48 million during the quarter, compared to analyst estimates of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. On average, research analysts expect that QuickLogic Corporation will post -0.26 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently commented on QUIK shares. 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 QuickLogic from $22.00 to $20.00 and set a “buy” rating for the company in a report on Wednesday, August 12th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, QuickLogic has a consensus rating of “Hold” and an average price target of $21.00.

Institutional Trading of QuickLogic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System acquired a new position in QuickLogic during the 2nd quarter valued at about $91,000. Prospera Financial Services Inc raised 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 worth $163,000 after purchasing an additional 10,150 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of QuickLogic in the first quarter worth approximately $111,000. SEB Asset Management AB bought a new position in shares of QuickLogic in the first quarter valued at approximately $129,000. Finally, OMERS ADMINISTRATION Corp bought a new position in shares of QuickLogic in the first quarter valued at approximately $151,000. 31.54% of the stock is owned by 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.