Gary Tauss Sells 1,500 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Gary Tauss sold 1,500 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $10.44, for a total transaction of $15,660.00. Following the sale, the director directly owned 19,654 shares in the company, valued at $205,187.76. The trade was a 7.09% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuickLogic Price Performance

Shares of NASDAQ QUIK opened at $10.52 on Friday. QuickLogic Corporation has a fifty-two week low of $5.28 and a fifty-two week high of $24.33. The company has a 50 day simple moving average of $12.29 and a two-hundred day simple moving average of $14.26. The company has a market capitalization of $192.73 million, a price-to-earnings ratio of -13.66 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 posted its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%.The company had revenue of $5.48 million during the quarter, compared to analysts’ expectations of $6.00 million. Analysts expect that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Hedge Funds Weigh In On QuickLogic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QUIK. Royal Bank of Canada boosted its position in QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after purchasing an additional 345,762 shares during the last quarter. Themes Management Co LLC bought a new position in shares of QuickLogic in the 1st quarter worth approximately $1,309,000. Sei Investments Co. purchased a new position in shares of QuickLogic in the first quarter worth approximately $987,000. Bank of New York Mellon Corp bought a new stake in QuickLogic during the second quarter valued at approximately $754,000. Finally, Perkins Capital Management Inc. increased its holdings in QuickLogic by 11.2% during the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock valued at $2,877,000 after buying an additional 31,000 shares during the last quarter. 31.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on QUIK. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Needham & Company LLC dropped 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. 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $21.00.

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.