QuickLogic (NASDAQ:QUIK) VP Timothy Saxe Sells 10,364 Shares

Key Points

• QuickLogic VP Timothy Saxe sold 10,364 shares at an average price of $10.21, totaling $105,816.44 and reducing his ownership by 6.37% to 152,214 shares. He also sold 15,190 shares the prior week.
• QuickLogic shares rose 1.9% to $10.72, but remain below their 50-day and 200-day moving averages. The company has a market capitalization of approximately $196 million and trades near the lower half of its 52-week range.
• The company’s latest quarterly results missed expectations, with a loss of $0.06 per share versus the estimated $0.04 loss and revenue of $5.48 million versus the $6 million consensus. Analysts have a consensus “Hold” rating and an average price target of $21.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) VP Timothy Saxe sold 10,364 shares of the firm's stock in a transaction dated Thursday, September 17th. The stock was sold at an average price of $10.21, for a total value of $105,816.44. Following the transaction, the vice president owned 152,214 shares of the company's stock, valued at $1,554,104.94. This trade represents a 6.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Timothy Saxe also recently made the following trade(s):

• On Thursday, September 10th, Timothy Saxe sold 15,190 shares of QuickLogic stock. The shares were sold at an average price of $10.80, for a total value of $164,052.00.

QuickLogic Trading Up 1.9%

NASDAQ:QUIK traded up $0.20 on Friday, reaching $10.72. 255,500 shares of the stock traded hands, compared to its average volume of 350,068. The firm has a market capitalization of $196.37 million, a price-to-earnings ratio of -13.92 and a beta of 1.20. The company's 50 day moving average is $12.29 and its 200-day moving average is $14.26. 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 Corporation has a 1-year low of $5.28 and a 1-year high of $24.33.

QuickLogic (NASDAQ:QUIK - Get Free Report) last released its quarterly 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). 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 the consensus estimate of $6.00 million. Equities research analysts anticipate that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.

Wall Street Analyst Weigh In

QUIK has been the topic of several recent analyst reports. Weiss Ratings restated a "sell (d-)" rating on shares of QuickLogic in a report on Wednesday, June 24th. 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. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, QuickLogic has a consensus rating of "Hold" and an average target price of $21.00.

Institutional Trading of QuickLogic

Large investors have recently modified their holdings of the stock. Royal Bank of Canada boosted its stake 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 in the last quarter. Perkins Capital Management Inc. raised its position 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 period. Themes Management Co LLC bought a new position in shares of QuickLogic in the 1st quarter worth $1,309,000. Sei Investments Co. bought a new position in shares of QuickLogic in the 1st quarter worth $987,000. Finally, Bank of New York Mellon Corp acquired a new stake in QuickLogic in the 2nd quarter valued at $754,000. Institutional investors and hedge funds own 31.54% of the company's stock.

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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