Key Points
- QuickLogic director Gary Tauss sold 2,195 shares on May 18 at an average price of $19.20, reducing his stake by about 12.1% and generating roughly $42,144.
- The stock was trading down 3.4% at $18.46, still near its 52-week high of $22.69, with a market cap of about $336.4 million.
- QuickLogic’s latest earnings missed expectations, reporting a loss of $0.08 per share versus the expected $0.06 loss and revenue of $5.05 million versus $5.51 million forecast.
QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) Director Gary Tauss sold 2,195 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $19.20, for a total transaction of $42,144.00. Following the sale, the director owned 15,908 shares in the company, valued at approximately $305,433.60. The trade was a 12.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
QuickLogic Trading Down 3.4%
NASDAQ:QUIK opened at $18.46 on Tuesday. The company's 50 day moving average price is $12.45 and its 200-day moving average price is $8.95. QuickLogic Corporation has a 52 week low of $4.80 and a 52 week high of $22.69. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $336.43 million, a price-to-earnings ratio of -20.74 and a beta of 1.11.
QuickLogic (NASDAQ:QUIK - Get Free Report) last posted its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts' consensus estimates 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 firm had revenue of $5.05 million for the quarter, compared to analysts' expectations of $5.51 million. On average, equities research analysts forecast that QuickLogic Corporation will post -0.2 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently commented on QUIK shares. Weiss Ratings reiterated a "sell (d-)" rating on shares of QuickLogic in a report on Friday, March 27th. Lake Street Capital reiterated a "buy" rating and set a $22.00 price target (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Finally, Wall Street Zen upgraded shares of QuickLogic from a "sell" rating to a "hold" rating in a report on Saturday. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, QuickLogic currently has a consensus rating of "Hold" and a consensus price target of $22.00.
Get Our Latest Research Report on QuickLogic
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc lifted its position in QuickLogic by 8.9% during the third quarter. Prospera Financial Services Inc now owns 17,050 shares of the semiconductor company's stock valued at $103,000 after purchasing an additional 1,400 shares during the period. Captrust Financial Advisors lifted its position in QuickLogic by 4.5% during the fourth quarter. Captrust Financial Advisors now owns 35,618 shares of the semiconductor company's stock valued at $214,000 after purchasing an additional 1,547 shares during the period. Perkins Capital Management Inc. lifted its position in QuickLogic by 1.0% during the third quarter. Perkins Capital Management Inc. now owns 204,956 shares of the semiconductor company's stock valued at $1,242,000 after purchasing an additional 2,000 shares during the period. State Street Corp lifted its position in QuickLogic by 5.0% during the fourth quarter. State Street Corp now owns 65,056 shares of the semiconductor company's stock valued at $391,000 after purchasing an additional 3,100 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in QuickLogic by 246.5% during the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 4,902 shares during the period. Institutional investors own 31.54% of the company's stock.
About QuickLogic
(
Get Free Report)
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.
Further Reading
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