QuickLogic Corporation (NASDAQ:QUIK) Short Interest Up 80.0% in June

QuickLogic Corporation (NASDAQ:QUIK) was the target of a large increase in short interest during the month of June. As of June 30th, there was short interest totaling 1,438,582 shares, an increase of 80.0% from the June 15th total of 799,032 shares. Approximately 8.2% of the company’s shares are sold short. Based on an average daily trading volume, of 640,870 shares, the short-interest ratio is currently 2.2 days.

Insider Transactions at QuickLogic

In related news, CEO Brian C. Faith sold 41,480 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total value of $848,266.00. Following the transaction, the chief executive officer directly owned 228,412 shares of the company’s stock, valued at approximately $4,671,025.40. This trade represents a 15.37% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gary H. Tauss sold 2,195 shares of the stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.20, for a total value of $42,144.00. Following the completion of the transaction, the director directly owned 15,908 shares in the company, valued at $305,433.60. This trade represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 49,175 shares of company stock worth $1,000,410 in the last ninety days. Insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in shares of QuickLogic by 246.5% during 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 during the period. Squarepoint Ops LLC purchased a new position in QuickLogic in the 4th quarter worth approximately $84,000. Jane Street Group LLC purchased a new position in QuickLogic in the 1st quarter worth approximately $87,000. Dimensional Fund Advisors LP acquired a new stake in QuickLogic in the fourth quarter valued at approximately $102,000. Finally, Stratos Wealth Advisors LLC grew its position in QuickLogic by 55.5% in the fourth quarter. Stratos Wealth Advisors LLC now owns 18,235 shares of the semiconductor company’s stock valued at $110,000 after acquiring an additional 6,510 shares in the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on QUIK. Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Needham & Company LLC started coverage on QuickLogic in a research note on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price objective on the stock. Lake Street Capital reiterated a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

QuickLogic Stock Performance

NASDAQ:QUIK opened at $13.03 on Friday. The firm’s fifty day simple moving average is $19.33 and its 200 day simple moving average is $12.82. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. QuickLogic has a twelve month low of $4.80 and a twelve month high of $24.33. The firm has a market capitalization of $237.54 million, a price-to-earnings ratio of -14.64 and a beta of 1.17.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). QuickLogic had a negative net margin of 102.41% and a negative return on equity of 48.97%. The company had revenue of $5.05 million during the quarter, compared to analyst estimates of $5.51 million. As a group, equities research analysts expect that QuickLogic will post -0.23 earnings per share for the current fiscal year.

QuickLogic Company Profile

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.