QuickLogic (NASDAQ:QUIK) VP Timothy Saxe Sells 9,155 Shares

Key Points

• Timothy Saxe, VP of QuickLogic, sold 9,155 shares at an average price of $5.80, reducing his stake by 6.78% to a total of 125,916 shares valued at approximately $730,312.80.
• QuickLogic's stock has seen a recent increase of 7.9%, trading at $6.27 with a market capitalization of $103.02 million.
• Analysts have a consensus rating of "Buy" for QuickLogic, with an average target price of $10.87, despite Wall Street Zen recently downgrading the stock from "hold" to "sell".

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) VP Timothy Saxe sold 9,155 shares of the business's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $53,099.00. Following the completion of the sale, the vice president owned 125,916 shares of the company's stock, valued at $730,312.80. The trade was a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

QuickLogic Stock Performance

Shares of QuickLogic stock traded down $0.16 on Tuesday, reaching $6.12. The stock had a trading volume of 161,769 shares, compared to its average volume of 200,960. The business's 50-day moving average price is $5.81 and its two-hundred day moving average price is $5.68. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.23 and a current ratio of 1.27. QuickLogic Corporation has a fifty-two week low of $4.26 and a fifty-two week high of $13.36. The stock has a market cap of $100.47 million, a P/E ratio of -13.01 and a beta of 0.74.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On QuickLogic

A number of hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC raised its stake in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock valued at $42,000 after buying an additional 4,902 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of QuickLogic by 2.8% during the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company's stock worth $1,295,000 after purchasing an additional 5,721 shares in the last quarter. Qube Research & Technologies Ltd lifted its holdings in QuickLogic by 40.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company's stock valued at $613,000 after purchasing an additional 28,751 shares during the last quarter. XTX Topco Ltd acquired a new position in QuickLogic in the second quarter valued at about $171,000. Finally, Prospera Financial Services Inc acquired a new position in QuickLogic in the second quarter valued at about $96,000. Institutional investors and hedge funds own 31.54% of the company's stock.

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.