Brian C. Faith Sells 14,956 Shares of QuickLogic (NASDAQ:QUIK) Stock

Key Points

• Brian Faith, CEO of QuickLogic, sold 14,956 shares of stock for a total of $86,744.80, reducing his ownership by 6.15% to approximately $1.32 million.
• QuickLogic's stock price recently increased to $6.27, with a market capitalization of $103.02 million and a notable 12-month trading range between $4.26 and $13.36.
• Analyst ratings for QuickLogic have changed, with Wall Street Zen downgrading the stock from a "hold" to a "sell," although the average price target remains at $10.87, indicating potential upside.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) CEO Brian C. Faith sold 14,956 shares of the company's stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $86,744.80. Following the transaction, the chief executive officer owned 228,412 shares of the company's stock, valued at approximately $1,324,789.60. This trade represents a 6.15% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

QuickLogic Price Performance

Shares of QUIK traded down $0.16 during mid-day trading on Tuesday, hitting $6.12. 161,769 shares of the company were exchanged, compared to its average volume of 200,960. QuickLogic Corporation has a 1-year low of $4.26 and a 1-year high of $13.36. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.23 and a current ratio of 1.27. The company has a 50 day moving average of $5.81 and a 200-day moving average of $5.68. The stock has a market cap of $100.47 million, a price-to-earnings ratio of -13.01 and a beta of 0.74.

Institutional Trading of QuickLogic

Several hedge funds have recently made changes to their positions in QUIK. Bank of America Corp DE grew its stake in shares of QuickLogic by 40.5% in the 4th quarter. Bank of America Corp DE now owns 13,091 shares of the semiconductor company's stock valued at $148,000 after buying an additional 3,773 shares during the period. Deutsche Bank AG grew its stake in shares of QuickLogic by 18,802.4% in the 4th quarter. Deutsche Bank AG now owns 71,262 shares of the semiconductor company's stock valued at $805,000 after buying an additional 70,885 shares during the period. GAMMA Investing LLC grew its stake in shares of QuickLogic by 5,920.0% in the 1st quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock valued at $32,000 after buying an additional 6,216 shares during the period. 1492 Capital Management LLC purchased a new stake in shares of QuickLogic in the 1st quarter valued at approximately $784,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of QuickLogic by 111.2% in the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 41,948 shares of the semiconductor company's stock valued at $214,000 after buying an additional 22,083 shares during the period. Hedge funds and other institutional investors own 31.54% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen downgraded shares of QuickLogic from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $10.87.

About QuickLogic

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.