QuickLogic Co. (NASDAQ:QUIK) CFO Sells $19,190.25 in Stock

QuickLogic Co. (NASDAQ:QUIK) CFO Elias Nader sold 2,843 shares of QuickLogic stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $6.75, for a total transaction of $19,190.25. Following the transaction, the chief financial officer now directly owns 62,785 shares of the company’s stock, valued at $423,798.75. This represents a 4.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Elias Nader also recently made the following trade(s):

• On Thursday, December 5th, Elias Nader sold 8,711 shares of QuickLogic stock. The stock was sold at an average price of $7.39, for a total transaction of $64,374.29.

QuickLogic Price Performance

Shares of NASDAQ QUIK opened at $7.09 on Thursday. The company has a 50-day moving average price of $8.84 and a 200-day moving average price of $8.39. QuickLogic Co. has a 1 year low of $6.75 and a 1 year high of $20.75. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $4.27 million for 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 quarter in the prior year, the business earned $0.08 earnings per share. On average, sell-side analysts anticipate that QuickLogic Co. will post -0.29 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in QuickLogic during the fourth quarter worth about $2,192,000. State Street Corp boosted its holdings in QuickLogic by 15.6% during the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after purchasing an additional 26,774 shares during the last quarter. Sprott Inc. purchased a new position in QuickLogic during the fourth quarter worth about $170,000. Cutter & CO Brokerage Inc. purchased a new position in QuickLogic during the third quarter worth about $106,000. Finally, Quest Partners LLC boosted its holdings in QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares during the last quarter. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on QUIK. StockNews.com raised shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Northland Securities began coverage on shares of QuickLogic in a report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 price target for the company. Craig Hallum reduced their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, November 12th. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $11.53.

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.