QuickLogic (NASDAQ:QUIK) Director Gary Tauss Sells 1,500 Shares of Stock

Key Points

• Director Gary Tauss sold 1,500 QuickLogic shares at an average price of $10.44, generating $15,660. The transaction, conducted under a pre-arranged Rule 10b5-1 plan, reduced his direct holdings by 7.09% to 19,654 shares.
• QuickLogic shares traded at $10.01, well below their 50-day and 200-day moving averages of $12.52 and $14.23, respectively. The stock has ranged from $5.28 to $24.33 over the past year.
• The company missed quarterly expectations, reporting a $0.06 per-share loss and $5.48 million in revenue versus analysts’ estimates of a $0.04 loss and $6.00 million in revenue. Analysts’ consensus rating is Hold, with a $21 average price target.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) Director Gary Tauss sold 1,500 shares of the business's stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $10.44, for a total transaction of $15,660.00. Following the sale, the director directly owned 19,654 shares in the company, valued at approximately $205,187.76. This represents a 7.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuickLogic Price Performance

QuickLogic stock traded down $0.19 during mid-day trading on Wednesday, reaching $10.01. The company had a trading volume of 315,057 shares, compared to its average volume of 350,797. QuickLogic Corporation has a 1 year low of $5.28 and a 1 year high of $24.33. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 2.06. The company has a market capitalization of $183.38 million, a P/E ratio of -13.00 and a beta of 1.20. The stock's 50-day simple moving average is $12.52 and its 200-day simple moving average is $14.23.

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

Institutional Investors Weigh In On QuickLogic

A number of hedge funds and other institutional investors have recently modified their holdings of QUIK. Royal Bank of Canada boosted its position in QuickLogic by 14,694.5% during the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company's stock worth $3,266,000 after acquiring an additional 345,762 shares during the last quarter. Perkins Capital Management Inc. boosted its holdings in shares of QuickLogic by 11.2% during the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company's stock worth $2,877,000 after purchasing an additional 31,000 shares during the last quarter. Themes Management Co LLC purchased a new stake in shares of QuickLogic in the first quarter valued at $1,309,000. Sei Investments Co. acquired a new position in QuickLogic in the first quarter valued at $987,000. Finally, Bank of New York Mellon Corp purchased a new position in QuickLogic during the second quarter worth about $754,000. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Needham & Company LLC decreased their price objective on shares of QuickLogic from $22.00 to $20.00 and set a "buy" rating on the stock in a research report on Wednesday, August 12th. Weiss Ratings reiterated a "sell (d-)" rating on shares of QuickLogic in a research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus 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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