Timothy Saxe Sells 10,000 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the sale, the vice president now directly owns 108,004 shares in the company, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

QuickLogic Stock Up 0.4 %

Shares of QuickLogic stock opened at $7.08 on Thursday. QuickLogic Co. has a one year low of $6.75 and a one year high of $20.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. The business has a 50-day simple moving average of $7.85 and a 200-day simple moving average of $9.65.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same period in the previous year, the company posted $0.08 earnings per share. On average, sell-side analysts forecast that QuickLogic Co. will post 0.08 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on QUIK. Oppenheimer reduced their target price on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Craig Hallum lowered their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Finally, StockNews.com raised shares of QuickLogic to a “sell” rating in a research report on Wednesday.

Institutional Trading of QuickLogic

A number of hedge funds have recently added to or reduced their stakes in QUIK. Raymond James & Associates increased its holdings in QuickLogic by 83.1% during the 2nd quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after purchasing an additional 58,668 shares during the last quarter. Marshall Wace LLP boosted its position in QuickLogic by 118.4% during the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after acquiring an additional 39,878 shares during the period. Bank of New York Mellon Corp boosted its position in QuickLogic by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after acquiring an additional 38,273 shares during the period. Squarepoint Ops LLC raised its stake in shares of QuickLogic by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after buying an additional 36,409 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of QuickLogic in the 1st quarter worth $447,000. 31.54% of the stock is owned by institutional investors and hedge funds.

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.