QuickLogic (NASDAQ:QUIK) VP Timothy Saxe Sells 15,190 Shares of Stock

Key Points

• QuickLogic VP Timothy Saxe sold 15,190 shares at an average price of $10.80, generating $164,052 and reducing his direct ownership by 9.54% to 143,976 shares.
• QuickLogic shares fell to $10.33, well below their 50-day and 200-day moving averages of $12.74 and $14.20. The stock has a market capitalization of about $189 million and has traded between $5.28 and $24.33 over the past year.
• The company missed quarterly expectations, reporting a $0.06 loss per share versus the expected $0.04 loss and revenue of $5.48 million versus $6 million expected. Analysts’ average rating is “Hold,” with an average price target of $21.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) VP Timothy Saxe sold 15,190 shares of the stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $10.80, for a total value of $164,052.00. Following the sale, the vice president directly owned 143,976 shares of the company's stock, valued at $1,554,940.80. The trade was a 9.54% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

QuickLogic Stock Performance

QUIK stock traded down $0.49 during midday trading on Monday, hitting $10.33. The company's stock had a trading volume of 264,379 shares, compared to its average volume of 351,843. The stock has a market cap of $189.25 million, a price-to-earnings ratio of -13.42 and a beta of 1.20. The company has a quick ratio of 2.06, a current ratio of 2.15 and a debt-to-equity ratio of 0.03. The stock's 50-day moving average price is $12.74 and its 200 day moving average price is $14.20. 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 announced 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 business had revenue of $5.48 million for the quarter, compared to analysts' expectations of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. On average, equities analysts forecast that QuickLogic Corporation will post -0.26 EPS for the current year.

Institutional Trading of QuickLogic

A number of large investors have recently bought and sold shares of QUIK. California State Teachers Retirement System bought a new stake in shares of QuickLogic in the second quarter valued at $91,000. Bank of New York Mellon Corp bought a new position in shares of QuickLogic during the 2nd quarter worth $754,000. Bank of America Corp DE grew its stake in shares of QuickLogic by 382.8% during the 1st quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company's stock worth $270,000 after acquiring an additional 22,812 shares during the period. Royal Bank of Canada increased its holdings in QuickLogic by 14,694.5% in the 1st 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. Finally, OMERS ADMINISTRATION Corp purchased a new stake in QuickLogic in the 1st quarter worth about $151,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on QUIK. Weiss Ratings restated a "sell (d-)" rating on shares of QuickLogic in a report on Wednesday, June 24th. Needham & Company LLC dropped their target price on shares of QuickLogic from $22.00 to $20.00 and set a "buy" rating on the stock in a research note 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 stock. Based on data from MarketBeat, QuickLogic presently has an average rating of "Hold" and an average 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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