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

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 company's stock in a transaction that occurred on Friday, September 19th. The shares were 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 directly owned 125,916 shares of the company's stock, valued at $730,312.80. The trade was a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

QuickLogic Stock Up 7.9%

Shares of QUIK stock traded up $0.46 on Monday, hitting $6.27. 260,124 shares of the stock were exchanged, compared to its average volume of 201,269. The firm has a market capitalization of $103.02 million, a P/E ratio of -13.34 and a beta of 0.74. QuickLogic Corporation has a fifty-two week low of $4.26 and a fifty-two week high of $13.36. The business has a 50-day moving average of $5.81 and a 200 day moving average of $5.68. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03.

Hedge Funds Weigh In On QuickLogic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Raymond James Financial Inc. grew its stake in QuickLogic by 2.8% during the second 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 during the period. 1492 Capital Management LLC bought a new position in QuickLogic during the first quarter worth $784,000. Deutsche Bank AG grew its holdings in QuickLogic by 94.2% in the first quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company's stock worth $707,000 after purchasing an additional 67,110 shares during the period. Qube Research & Technologies Ltd grew its holdings in QuickLogic by 40.6% in the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company's stock worth $613,000 after purchasing an additional 28,751 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of QuickLogic by 62.8% during the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company's stock valued at $282,000 after purchasing an additional 21,275 shares during the period. 31.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.