Michael Farese Sells 4,000 Shares of QuickLogic (NASDAQ:QUIK) Stock

QuickLogic Corporation (NASDAQ:QUIK) Director Michael Farese sold 4,000 shares of QuickLogic stock in a transaction on Monday, April 6th. The stock was sold at an average price of $10.31, for a total transaction of $41,240.00. Following the sale, the director owned 35,340 shares in the company, valued at $364,355.40. This represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

QuickLogic Price Performance

Shares of NASDAQ:QUIK opened at $10.01 on Thursday. The company’s fifty day moving average price is $8.47 and its 200 day moving average price is $7.33. QuickLogic Corporation has a 12 month low of $4.32 and a 12 month high of $10.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $177.38 million, a P/E ratio of -11.12 and a beta of 0.59.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 47.54% and a negative net margin of 107.70%.The company had revenue of $3.73 million for the quarter, compared to analyst estimates of $3.50 million. As a group, sell-side analysts predict that QuickLogic Corporation will post -0.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

QUIK has been the topic of several research reports. Lake Street Capital initiated coverage on shares of QuickLogic in a research report on Monday, February 9th. They set a “buy” rating and a $10.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Two investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $10.50.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cadent Capital Advisors LLC purchased a new position in QuickLogic during the 4th quarter worth $1,036,000. Squarepoint Ops LLC purchased a new position in QuickLogic during the 4th quarter worth $84,000. Dimensional Fund Advisors LP purchased a new stake in shares of QuickLogic in the fourth quarter valued at about $102,000. Prospera Financial Services Inc boosted its holdings in shares of QuickLogic by 59.5% in the fourth quarter. Prospera Financial Services Inc now owns 27,200 shares of the semiconductor company’s stock valued at $163,000 after acquiring an additional 10,150 shares in the last quarter. Finally, Perkins Capital Management Inc. boosted its holdings in shares of QuickLogic by 34.5% in the fourth quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock valued at $1,657,000 after acquiring an additional 70,750 shares in the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

About QuickLogic

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.