Key Points
- QuickLogic CEO Brian Faith sold 41,480 shares on May 20 for about $848,266 at an average price of $20.45, reducing his holdings by 15.37%.
- The company recently reported weak quarterly results, with EPS of -$0.08 versus an expected -$0.06 and revenue of $5.05 million, below estimates.
- Despite the insider sale and earnings miss, analysts remain cautious but constructive, with a consensus rating of Hold and a consensus price target of $22.00.
QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) Director Joyce Kim sold 5,500 shares of the business's stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total value of $110,000.00. Following the completion of the transaction, the director directly owned 2,140 shares in the company, valued at approximately $42,800. This represents a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
QuickLogic Stock Down 1.4%
NASDAQ QUIK opened at $20.17 on Friday. The stock's 50 day moving average is $13.09 and its 200 day moving average is $9.20. 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 Corporation has a 12 month low of $4.80 and a 12 month high of $22.69. The stock has a market cap of $367.60 million, a PE ratio of -22.66 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 return on equity of 48.97% and a negative net margin of 102.41%.The business had revenue of $5.05 million during the quarter, compared to analysts' expectations of $5.51 million. Research analysts predict that QuickLogic Corporation will post -0.2 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on QUIK shares. Lake Street Capital reissued a "buy" rating and issued a $22.00 price target (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Wall Street Zen raised QuickLogic from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Weiss Ratings reissued a "sell (d-)" rating on shares of QuickLogic in a report on Friday, March 27th. Finally, Needham & Company LLC began coverage on QuickLogic in a report on Wednesday. They set a "buy" rating and a $22.00 price objective on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $22.00.
Read Our Latest Stock Analysis on QUIK
Institutional Trading of QuickLogic
Several hedge funds have recently modified their holdings of QUIK. Royal Bank of Canada raised its holdings in shares of QuickLogic by 14,694.5% during the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company's stock worth $3,266,000 after acquiring an additional 345,762 shares in the last quarter. Cadent Capital Advisors LLC purchased a new stake in shares of QuickLogic during the 4th quarter worth approximately $1,036,000. Themes Management Co LLC purchased a new stake in shares of QuickLogic during the 1st quarter worth approximately $1,309,000. Sei Investments Co. purchased a new stake in shares of QuickLogic during the 1st quarter worth approximately $987,000. Finally, Perkins Capital Management Inc. raised its holdings in shares of QuickLogic by 34.5% during the 4th quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company's stock worth $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.
QuickLogic Company Profile
(
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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