QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe Sells 10,886 Shares

QuickLogic Co. (NASDAQ:QUIK) VP Timothy Saxe sold 10,886 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $80,447.54. Following the completion of the transaction, the vice president now directly owns 117,609 shares of the company’s stock, valued at approximately $869,130.51. This represents a 8.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Timothy Saxe also recently made the following trade(s):

• On Monday, November 18th, Timothy Saxe sold 10,000 shares of QuickLogic stock. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00.

QuickLogic Stock Down 2.5 %

QUIK opened at $7.41 on Wednesday. The stock has a market capitalization of $108.98 million, a price-to-earnings ratio of -74.10 and a beta of 1.59. The firm has a 50 day moving average price of $7.89 and a 200-day moving average price of $9.18. QuickLogic Co. has a twelve month low of $6.75 and a twelve month high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last announced its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The company had revenue of $4.27 million for the quarter, compared to analysts’ expectations 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 firm posted $0.08 earnings per share. Equities research analysts forecast that QuickLogic Co. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its position in shares of QuickLogic by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 3,750 shares during the last quarter. Quest Partners LLC grew its position in QuickLogic by 5,067.5% during the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock valued at $84,000 after buying an additional 10,743 shares during the period. Bank of New York Mellon Corp increased its holdings in QuickLogic by 142.9% during the second 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 last quarter. Raymond James & Associates raised its position in QuickLogic by 83.1% in the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock worth $1,343,000 after acquiring an additional 58,668 shares during the period. Finally, Rhumbline Advisers purchased a new position in shares of QuickLogic during the 2nd quarter worth $172,000. Institutional investors own 31.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on QUIK. 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 research report on Tuesday, November 12th. Oppenheimer reduced their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, StockNews.com raised QuickLogic to a “sell” rating in a report on Wednesday.

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.