Michael Farese Sells 2,328 Shares of QuickLogic (NASDAQ:QUIK) Stock

Key Points

• Director Michael Farese sold 2,328 QuickLogic shares on March 4 at an average of $9.41 for about $21,906, cutting his stake by 5.15% to 42,882 shares, per an SEC Form 4 filing.
• Quarterly results showed a $0.17 per share loss (worse than the $0.11 consensus) while revenue of $3.73M slightly beat estimates; the company reported a negative net margin (107.7%) and negative ROE.
• Shares traded at $8.78 (down 0.2%) with a market cap of ~$150M and a 12‑month range of $4.26–$9.59; analysts have a consensus Hold rating and a $10.50 target amid mixed Buy/Hold/Sell opinions.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) Director Michael Farese sold 2,328 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $9.41, for a total transaction of $21,906.48. Following the completion of the transaction, the director directly owned 42,882 shares of the company's stock, valued at approximately $403,519.62. The trade was a 5.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

QuickLogic Stock Down 0.2%

QuickLogic stock traded down $0.02 during mid-day trading on Thursday, reaching $8.78. 203,054 shares of the company's stock were exchanged, compared to its average volume of 184,250. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.02. QuickLogic Corporation has a twelve month low of $4.26 and a twelve month high of $9.59. The company has a market cap of $150.05 million, a P/E ratio of -9.76 and a beta of 0.60. The company has a fifty day moving average of $7.56 and a 200-day moving average of $6.66.

QuickLogic (NASDAQ:QUIK - Get Free Report) last posted its quarterly earnings data on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share for the quarter, missing analysts' consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 45.83% and a negative net margin of 107.70%.The company had revenue of $3.73 million for the quarter, compared to analysts' expectations of $3.50 million. Sell-side analysts expect that QuickLogic Corporation will post -0.29 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a "sell (d-)" rating on shares of QuickLogic in a report on Monday, December 29th. Northland Securities lowered shares of QuickLogic from an "outperform" rating to a "market perform" rating in a research note on Wednesday, November 12th. Finally, Lake Street Capital started coverage on shares of QuickLogic in a research report on Monday, February 9th. They issued a "buy" rating and a $10.00 price objective for the company. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, QuickLogic has a consensus rating of "Hold" and a consensus target price of $10.50.

Institutional Investors Weigh In On QuickLogic

Institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its position in QuickLogic by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company's stock worth $282,000 after purchasing an additional 21,275 shares in the last quarter. Jane Street Group LLC acquired a new position in QuickLogic in the first quarter valued at $87,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of QuickLogic during the 2nd quarter worth about $149,000. Prospera Financial Services Inc acquired a new stake in shares of QuickLogic in the second quarter worth $96,000. Finally, XTX Topco Ltd acquired a new stake in QuickLogic in the 2nd quarter valued at $171,000. Hedge funds and other institutional investors own 31.54% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.