Elias Nader Sells 8,291 Shares of QuickLogic (NASDAQ:QUIK) Stock

Key Points

• QuickLogic CFO Elias Nader sold 8,291 shares at an average price of $10.21, generating $84,651.11 and reducing his direct ownership by 8.54% to 88,845 shares. He also sold 12,152 shares the prior week.
• QuickLogic shares rose 1.9% to $10.72, but remain below their 50-day and 200-day moving averages. The stock has traded between $5.28 and $24.33 over the past year.
• The company recently missed quarterly earnings and revenue expectations, reporting an adjusted loss of $0.06 per share on $5.48 million in revenue. Analysts’ consensus rating is “Hold,” with an average price target of $21.00.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) CFO Elias Nader sold 8,291 shares of the business's stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.21, for a total transaction of $84,651.11. Following the completion of the sale, the chief financial officer directly owned 88,845 shares of the company's stock, valued at $907,107.45. This represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Elias Nader also recently made the following trade(s):

• On Thursday, September 10th, Elias Nader sold 12,152 shares of QuickLogic stock. The shares were sold at an average price of $10.80, for a total transaction of $131,241.60.

QuickLogic Trading Up 1.9%

Shares of NASDAQ:QUIK traded up $0.20 on Friday, reaching $10.72. 255,500 shares of the company traded hands, compared to its average volume of 350,068. The business's 50-day simple moving average is $12.29 and its 200 day simple moving average is $14.26. QuickLogic Corporation has a 52 week low of $5.28 and a 52 week high of $24.33. The stock has a market capitalization of $196.37 million, a P/E ratio of -13.92 and a beta of 1.20. The company has a current ratio of 2.15, a quick ratio of 2.06 and a debt-to-equity ratio of 0.03.

QuickLogic (NASDAQ:QUIK - Get Free Report) last released its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). The company had revenue of $5.48 million during the quarter, compared to the consensus estimate of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. As a group, equities analysts anticipate that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Institutional Trading of QuickLogic

Several large investors have recently modified their holdings of the business. Bank of New York Mellon Corp purchased a new stake in QuickLogic in the 2nd quarter worth approximately $754,000. Bank of America Corp DE increased its stake in shares of QuickLogic by 382.8% during the first quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company's stock valued at $270,000 after buying an additional 22,812 shares during the period. Royal Bank of Canada increased its stake in shares of QuickLogic by 14,694.5% during the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company's stock valued at $3,266,000 after buying an additional 345,762 shares during the period. OMERS ADMINISTRATION Corp bought a new position in shares of QuickLogic during the first quarter valued at approximately $151,000. Finally, Themes Management Co LLC purchased a new stake in QuickLogic in the first quarter worth $1,309,000. 31.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on QUIK. Needham & Company LLC lowered their price objective on QuickLogic from $22.00 to $20.00 and set a "buy" rating for the company in a research report on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of QuickLogic in a report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $21.00.

About QuickLogic

QuickLogic Corporation NASDAQ: QUIK is a fabless semiconductor company that develops customizable, low-power semiconductor solutions and intellectual property for consumer, industrial, communications, and other electronic devices. Its technologies are designed to help manufacturers add processing, connectivity, display, and sensor capabilities while reducing development time and power consumption.

The company's offerings include embedded FPGA (eFPGA) intellectual property, which allows programmable logic to be integrated directly into a system-on-chip, as well as customer-specific standard products and related semiconductor solutions.

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