Insider Selling: 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 dated Monday, November 18th. The stock was sold at an average price of $6.95, for a total value of $69,500.00. Following the sale, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This trade represents a 8.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

QuickLogic Trading Up 6.2 %

Shares of NASDAQ:QUIK opened at $7.52 on Friday. QuickLogic Co. has a 12-month low of $6.75 and a 12-month high of $20.75. The company has a market capitalization of $110.62 million, a PE ratio of -75.20 and a beta of 1.56. The business has a 50 day moving average of $7.84 and a two-hundred day moving average of $9.62. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. During the same period in the previous year, the firm posted $0.08 earnings per share. As a group, analysts forecast that QuickLogic Co. will post 0.08 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on QUIK shares. Craig Hallum decreased 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. StockNews.com raised QuickLogic to a “sell” rating in a report on Wednesday. Finally, Oppenheimer decreased their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of QUIK. Hillsdale Investment Management Inc. increased its position in shares of 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 in the last quarter. Quest Partners LLC increased its position in shares of QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 10,743 shares in the last quarter. Acuitas Investments LLC increased its position in shares of QuickLogic by 54.0% in the second quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock valued at $101,000 after buying an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new stake in shares of QuickLogic in the third quarter valued at approximately $106,000. Finally, XTX Topco Ltd purchased a new stake in shares of QuickLogic in the second quarter valued at approximately $127,000. 31.54% of the stock is owned by institutional investors and hedge funds.

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.