Brian C. Faith Sells 21,402 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) CEO Brian C. Faith sold 21,402 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the transaction, the chief executive officer now owns 193,584 shares of the company’s stock, valued at approximately $1,430,585.76. This trade represents a 9.96 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

QuickLogic Stock Down 2.5 %

Shares of NASDAQ:QUIK opened at $7.41 on Wednesday. QuickLogic Co. has a 52 week low of $6.75 and a 52 week high of $20.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The company has a market cap of $108.98 million, a PE ratio of -74.10 and a beta of 1.59. The firm has a 50 day simple moving average of $7.89 and a 200 day simple moving average of $9.18.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The business had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same period last year, the business earned $0.08 EPS. As a group, research analysts expect that QuickLogic Co. will post -0.29 earnings per share for the current year.

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently bought and sold shares of QUIK. Raymond James & Associates boosted its holdings in shares of QuickLogic by 83.1% during the second 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 period. Marshall Wace LLP lifted its position in QuickLogic by 118.4% in the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after buying an additional 39,878 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of 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 valued at $676,000 after buying an additional 38,273 shares during the period. Squarepoint Ops LLC grew its holdings in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 36,409 shares in the last quarter. Finally, State Street Corp increased its stake in shares of QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after acquiring an additional 26,774 shares during the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday. Oppenheimer cut their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th. Finally, Craig Hallum decreased their price target on QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday, November 12th.

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.