Insider Selling: QuickLogic (NASDAQ:QUIK) CFO Sells 7,325 Shares of Stock

Key Points

• QuickLogic CFO Elias Nader sold 7,325 shares for a total of $42,485, resulting in an 8.20% decrease in his ownership of the company's stock.
• QuickLogic's stock price rose by 7.9% to reach $6.27, with a market capitalization of $103.02 million and a current P/E ratio of -13.34.
• Wall Street analysts have mixed ratings on QuickLogic, with a consensus average rating of "Buy" and a price target of $10.87.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) CFO Elias Nader sold 7,325 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $42,485.00. Following the sale, the chief financial officer directly owned 82,006 shares in the company, valued at approximately $475,634.80. This represents a 8.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

QuickLogic Price Performance

NASDAQ:QUIK traded down $0.16 during mid-day trading on Tuesday, reaching $6.12. 161,769 shares of the company were exchanged, compared to its average volume of 200,960. QuickLogic Corporation has a 12 month low of $4.26 and a 12 month high of $13.36. The company has a fifty day moving average of $5.81 and a 200 day moving average of $5.68. The company has a quick ratio of 1.23, a current ratio of 1.27 and a debt-to-equity ratio of 0.03. The stock has a market cap of $100.47 million, a PE ratio of -13.01 and a beta of 0.74.

Wall Street Analyst Weigh In

Separately, Wall Street Zen lowered shares of QuickLogic from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the stock. According to MarketBeat, QuickLogic has an average rating of "Buy" and an average target price of $10.87.

Institutional Trading of QuickLogic

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC raised its position 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 acquiring an additional 6,216 shares during the period. Tower Research Capital LLC TRC raised its holdings in QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock worth $42,000 after buying an additional 4,902 shares during the period. Vanguard Personalized Indexing Management LLC acquired a new stake in QuickLogic during the 2nd quarter worth approximately $66,000. Jane Street Group LLC acquired a new stake in QuickLogic during the 1st quarter worth approximately $87,000. Finally, Nuveen LLC acquired a new stake in QuickLogic during the 1st quarter worth approximately $95,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

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.