QuickLogic Co. (NASDAQ:QUIK - Get Free Report) VP Timothy Saxe sold 10,000 shares of the company'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 transaction, the vice president now directly owns 108,004 shares of the company's stock, valued at approximately $750,627.80. This trade represents a 8.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
QuickLogic Stock Up 2.5 %
NASDAQ:QUIK opened at $7.05 on Wednesday. QuickLogic Co. has a 12-month low of $6.82 and a 12-month high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The firm has a market capitalization of $103.71 million, a P/E ratio of -70.50 and a beta of 1.56. The stock's fifty day simple moving average is $7.85 and its 200-day simple moving average is $9.70.
QuickLogic (NASDAQ:QUIK - Get Free Report) last posted its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The company 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 quarter in the prior year, the business earned $0.08 earnings per share. Equities research analysts expect that QuickLogic Co. will post 0.08 earnings per share for the current year.
Institutional Trading of QuickLogic
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Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC raised its stake in QuickLogic by 29.9% during the 1st quarter. Acadian Asset Management LLC now owns 63,152 shares of the semiconductor company's stock worth $1,010,000 after buying an additional 14,520 shares during the period. American Century Companies Inc. raised its stake in shares of QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company's stock valued at $196,000 after purchasing an additional 3,750 shares during the period. Bank of New York Mellon Corp raised its stake in shares of QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company's stock valued at $676,000 after purchasing an additional 38,273 shares during the period. Raymond James & Associates raised its stake in shares of QuickLogic by 83.1% in the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company's stock valued at $1,343,000 after purchasing an additional 58,668 shares during the period. Finally, Rhumbline Advisers acquired a new stake in shares of QuickLogic in the 2nd quarter valued at about $172,000. Institutional investors and hedge funds own 31.54% of the company's stock.
Analyst Ratings Changes
A number of brokerages have recently issued reports on QUIK. Craig Hallum dropped their target price on QuickLogic from $12.00 to $10.00 and set a "buy" rating for the company in a report on Tuesday, November 12th. Oppenheimer decreased their price target on QuickLogic from $16.00 to $13.00 and set an "outperform" rating on the stock in a research report on Wednesday, August 14th. Finally, StockNews.com lowered QuickLogic from a "hold" rating to a "sell" rating in a research report on Tuesday, August 13th.
Get Our Latest Research Report on QUIK
About QuickLogic
(
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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.
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