QuickLogic (NASDAQ:QUIK) CEO Brian Faith Sells 25,292 Shares of Stock

Key Points

• CEO Brian Faith sold 25,292 QuickLogic shares at an average price of $10.80, generating $273,153.60 and reducing his stake by 9% to 255,791 shares.
• QuickLogic shares recently traded at $10.33, well below their 50-day and 200-day moving averages. The company reported a quarterly EPS loss of $0.06 and revenue of $5.48 million, missing analyst expectations on both measures.
• Analyst sentiment is mixed, with two Buy ratings, one Hold, and one Sell; the consensus rating is Hold with a $21.00 price target. Institutional investors own 31.54% of the stock.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) CEO Brian Faith sold 25,292 shares of the stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total transaction of $273,153.60. Following the completion of the sale, the chief executive officer owned 255,791 shares of the company's stock, valued at approximately $2,762,542.80. This represents a 9.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

QuickLogic Stock Performance

Shares of QUIK traded down $0.49 during midday trading on Monday, reaching $10.33. The stock had a trading volume of 264,379 shares, compared to its average volume of 351,843. The firm has a market cap of $189.25 million, a PE ratio of -13.42 and a beta of 1.20. The firm has a 50 day simple moving average of $12.74 and a 200-day simple moving average of $14.20. QuickLogic Corporation has a one year low of $5.28 and a one year high of $24.33. 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 issued its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.02). The firm had revenue of $5.48 million during the quarter, compared to analyst estimates 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, sell-side analysts anticipate that QuickLogic Corporation will post -0.26 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. California State Teachers Retirement System bought a new stake in QuickLogic in the 2nd quarter valued at $91,000. Bank of New York Mellon Corp bought a new position in QuickLogic during the 2nd quarter worth $754,000. Bank of America Corp DE lifted its holdings 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 worth $270,000 after buying an additional 22,812 shares in the last quarter. Royal Bank of Canada boosted its position in shares of QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company's stock valued at $3,266,000 after acquiring an additional 345,762 shares during the period. Finally, OMERS ADMINISTRATION Corp bought a new stake in shares of QuickLogic in the first quarter valued at about $151,000. Institutional investors and hedge funds own 31.54% of the company's stock.

Wall Street Analysts Forecast Growth

QUIK has been the subject of several research analyst reports. Needham & Company LLC reduced their target price on QuickLogic from $22.00 to $20.00 and set a "buy" rating for the company in a research note on Wednesday, August 12th. Weiss Ratings restated a "sell (d-)" rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $21.00.

QuickLogic Company Profile

QuickLogic Corporation NASDAQ: QUIK is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company's products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic's technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic's key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.

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