QuickLogic Co. (NASDAQ:QUIK) VP Sells $69,500.00 in Stock

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the transaction, the vice president now owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. This trade represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

QuickLogic Price Performance

Shares of NASDAQ QUIK traded up $0.17 during trading on Tuesday, reaching $7.05. The company had a trading volume of 240,386 shares, compared to its average volume of 229,787. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $103.71 million, a PE ratio of -70.50 and a beta of 1.56. The stock has a 50-day moving average price of $7.85 and a two-hundred day moving average price of $9.70. QuickLogic Co. has a twelve month low of $6.82 and a twelve month high of $20.75.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The business had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, sell-side analysts predict that QuickLogic Co. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have issued reports on QUIK. Oppenheimer decreased their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. StockNews.com downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Finally, Craig Hallum reduced their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Tuesday, November 12th.

Institutional Trading of QuickLogic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Hillsdale Investment Management Inc. raised its position in shares of QuickLogic by 918.8% during the 1st quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock worth $78,000 after purchasing an additional 4,410 shares during the period. Acuitas Investments LLC grew its holdings in shares of QuickLogic by 54.0% in the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 3,400 shares during the last quarter. Quest Partners LLC raised its holdings in shares of QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after acquiring an additional 10,743 shares during the period. XTX Topco Ltd purchased a new stake in QuickLogic in the 2nd quarter worth about $127,000. Finally, Cutter & CO Brokerage Inc. purchased a new stake in shares of QuickLogic in the third quarter worth approximately $106,000. Institutional investors own 31.54% of the company’s stock.

About QuickLogic

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.