Taylor Frigon Capital Management LLC Sells 79,516 Shares of QuickLogic Co. (NASDAQ:QUIK)

Taylor Frigon Capital Management LLC cut its stake in QuickLogic Co. (NASDAQ:QUIK - Free Report) by 13.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 513,808 shares of the semiconductor company's stock after selling 79,516 shares during the period. QuickLogic makes up about 3.6% of Taylor Frigon Capital Management LLC's holdings, making the stock its largest holding. Taylor Frigon Capital Management LLC owned approximately 3.69% of QuickLogic worth $7,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC acquired a new position in QuickLogic in the third quarter valued at approximately $26,000. Renaissance Technologies LLC acquired a new stake in shares of QuickLogic during the 2nd quarter worth about $95,000. Wolverine Trading LLC purchased a new stake in QuickLogic in the 2nd quarter valued at about $102,000. Quadrature Capital Ltd acquired a new position in QuickLogic in the third quarter valued at about $111,000. Finally, Silverberg Bernstein Capital Management LLC acquired a new stake in shares of QuickLogic during the fourth quarter valued at about $219,000. Institutional investors and hedge funds own 31.54% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on QUIK. TheStreet raised shares of QuickLogic from a "d" rating to a "c" rating in a research report on Thursday, February 29th. Oppenheimer restated an "outperform" rating and set a $16.00 target price (up from $12.00) on shares of QuickLogic in a report on Wednesday, February 28th. Finally, StockNews.com raised shares of QuickLogic from a "sell" rating to a "hold" rating in a research report on Saturday, February 3rd.

Insider Activity at QuickLogic

In related news, Director Russell Christine sold 4,444 shares of the business's stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $16.74, for a total transaction of $74,392.56. Following the completion of the sale, the director now owns 3,717 shares in the company, valued at $62,222.58. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Elias Nader sold 2,474 shares of the business's stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.54, for a total value of $38,445.96. Following the completion of the sale, the chief financial officer now directly owns 44,207 shares of the company's stock, valued at approximately $686,976.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Russell Christine sold 4,444 shares of QuickLogic stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $16.74, for a total value of $74,392.56. Following the transaction, the director now directly owns 3,717 shares in the company, valued at approximately $62,222.58. The disclosure for this sale can be found here. Insiders have sold 21,702 shares of company stock valued at $350,482 over the last quarter. 2.49% of the stock is owned by insiders.

QuickLogic Stock Down 5.3 %

Shares of QUIK traded down $0.73 during midday trading on Friday, hitting $13.13. The company had a trading volume of 237,285 shares, compared to its average volume of 360,646. The company's 50-day simple moving average is $14.80 and its 200-day simple moving average is $12.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.10 and a current ratio of 1.17. QuickLogic Co. has a 1 year low of $5.09 and a 1 year high of $20.75. The firm has a market capitalization of $188.77 million, a P/E ratio of -328.25 and a beta of 1.63.

QuickLogic (NASDAQ:QUIK - Get Free Report) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.06. QuickLogic had a negative net margin of 1.24% and a negative return on equity of 1.85%. The company had revenue of $7.48 million during the quarter, compared to the consensus estimate of $7.40 million. As a group, sell-side analysts expect that QuickLogic Co. will post 0.17 EPS for the current year.

QuickLogic Company Profile

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.