Short Interest in QuickLogic Co. (NASDAQ:QUIK) Increases By 28.7%

QuickLogic Co. (NASDAQ:QUIK) was the recipient of a large increase in short interest in the month of July. As of July 15th, there was short interest totalling 1,750,000 shares, an increase of 28.7% from the June 30th total of 1,360,000 shares. Based on an average trading volume of 283,100 shares, the days-to-cover ratio is currently 6.2 days.

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction on Monday, May 20th. The shares were sold at an average price of $11.76, for a total transaction of $117,600.00. Following the transaction, the vice president now owns 114,934 shares in the company, valued at $1,351,623.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Several hedge funds and other institutional investors have recently bought and sold shares of QUIK. Bank of New York Mellon Corp raised its position 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 worth $676,000 after acquiring an additional 38,273 shares in the last quarter. Raymond James & Associates grew its stake in QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 58,668 shares during the period. Virtu Financial LLC bought a new stake in QuickLogic in the first quarter worth approximately $447,000. Hillsdale Investment Management Inc. lifted its stake in QuickLogic by 918.8% in the first quarter. Hillsdale Investment Management Inc. now owns 4,890 shares of the semiconductor company’s stock valued at $78,000 after buying an additional 4,410 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of 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 in the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

QuickLogic Stock Down 3.9 %

Shares of NASDAQ:QUIK opened at $10.65 on Tuesday. The firm has a market cap of $153.57 million, a P/E ratio of 177.50 and a beta of 1.63. The company has a quick ratio of 1.17, a current ratio of 1.24 and a debt-to-equity ratio of 0.02. QuickLogic has a 12-month low of $7.05 and a 12-month high of $20.75. The business has a fifty day simple moving average of $11.41 and a 200 day simple moving average of $13.10.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Monday, May 13th. The semiconductor company reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. QuickLogic had a return on equity of 6.57% and a net margin of 4.65%. The business had revenue of $6.01 million during the quarter, compared to analyst estimates of $6.20 million. Analysts predict that QuickLogic will post 0.22 earnings per share for the current year.

QuickLogic Company Profile

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.