Timothy Saxe Sells 10,000 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 108,004 shares in the company, valued at $750,627.80. This trade represents a 8.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuickLogic Trading Up 0.4 %

Shares of QUIK stock opened at $7.08 on Thursday. QuickLogic Co. has a 12-month low of $6.75 and a 12-month high of $20.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The company has a 50 day moving average of $7.85 and a 200-day moving average of $9.65.

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on QUIK shares. Oppenheimer dropped 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. Craig Hallum lowered their price target on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Finally, StockNews.com upgraded QuickLogic to a “sell” rating in a research note on Wednesday.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in QUIK. Barclays PLC increased its stake in shares of QuickLogic by 34.8% in the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares in the last quarter. State Street Corp boosted its position in QuickLogic by 15.6% in the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after buying an additional 26,774 shares during the period. Quest Partners LLC lifted its position in shares of QuickLogic by 5,067.5% in the 3rd quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares during the period. Cutter & CO Brokerage Inc. purchased a new stake in shares of QuickLogic in the 3rd quarter worth approximately $106,000. Finally, Squarepoint Ops LLC raised its stake in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares in the last quarter. 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.