Brian Faith Sells 25,292 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) CEO Brian Faith sold 25,292 shares of the business’s stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $10.80, for a total value of $273,153.60. Following the completion of the sale, the chief executive officer owned 255,791 shares in the company, valued at approximately $2,762,542.80. This trade represents a 9.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

QuickLogic Stock Down 1.3%

NASDAQ:QUIK opened at $10.20 on Wednesday. The stock has a 50-day simple moving average of $12.52 and a 200 day simple moving average of $14.23. QuickLogic Corporation has a 52-week low of $5.28 and a 52-week high of $24.33. The company has a market cap of $186.86 million, a PE ratio of -13.25 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.06 and a current ratio of 2.15.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) 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 the consensus estimate of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. On average, sell-side analysts expect that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on QUIK shares. Needham & Company LLC lowered their price target on shares of QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday, August 12th. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $21.00.

Institutional Investors Weigh In On QuickLogic

Large investors have recently made changes to their positions in the stock. Cetera Investment Advisers acquired a new position in QuickLogic during the first quarter worth $111,000. SEB Asset Management AB acquired a new stake in QuickLogic in the first quarter valued at $129,000. OMERS ADMINISTRATION Corp bought a new position in shares of QuickLogic in the 1st quarter valued at about $151,000. Maridea Wealth Management LLC acquired a new position in shares of QuickLogic during the 1st quarter worth about $161,000. Finally, Prospera Financial Services Inc increased its stake in shares of QuickLogic by 59.5% during the 4th 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. Institutional investors and hedge funds own 31.54% of the company’s stock.

About QuickLogic

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.