Key Points
- QuickLogic Director Gary Tauss sold 1,500 shares at an average price of $10.44, generating $15,660. The transaction reduced his direct holdings by 7.09% and was conducted under a pre-arranged Rule 10b5-1 trading plan.
- QuickLogic recently reported weaker-than-expected quarterly results, with an adjusted loss of $0.06 per share versus the $0.04 expected and revenue of $5.48 million versus the $6.00 million consensus estimate.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $21 price target; the stock opened at $10.01, well below its 50-day and 200-day moving averages of $12.41 and $14.25, respectively.
QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) Director Gary Tauss sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $10.44, for a total transaction of $15,660.00. Following the sale, the director directly owned 19,654 shares of the company's stock, valued at approximately $205,187.76. This trade represents a 7.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
QuickLogic Trading Down 1.9%
Shares of QUIK opened at $10.01 on Thursday. The business's fifty day moving average is $12.41 and its 200-day moving average is $14.25. The firm has a market cap of $183.38 million, a price-to-earnings ratio of -13.00 and a beta of 1.20. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.06 and a current ratio of 2.15. QuickLogic Corporation has a 52-week low of $5.28 and a 52-week high of $24.33.
QuickLogic (NASDAQ:QUIK - Get Free Report) last released its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.02). The business had revenue of $5.48 million during the quarter, compared to the consensus estimate of $6.00 million. QuickLogic had a negative net margin of 80.18% and a negative return on equity of 45.22%. Equities analysts anticipate that QuickLogic Corporation will post -0.26 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on QUIK shares. Needham & Company LLC reduced their target price on shares of QuickLogic from $22.00 to $20.00 and set a "buy" rating on the stock in a report on Wednesday, August 12th. Weiss Ratings reissued a "sell (d-)" rating on shares of QuickLogic in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, QuickLogic has a consensus rating of "Hold" and a consensus price target of $21.00.
Read Our Latest Report on QUIK
Hedge Funds Weigh In On QuickLogic
Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp bought a new position in shares of QuickLogic during the second quarter valued at about $754,000. Bank of America Corp DE grew its holdings in QuickLogic by 382.8% during the first quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company's stock valued at $270,000 after purchasing an additional 22,812 shares during the period. Royal Bank of Canada grew its stake 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 during the period. OMERS ADMINISTRATION Corp bought a new position in QuickLogic during the first quarter worth about $151,000. Finally, Themes Management Co LLC purchased a new position in QuickLogic in the 1st quarter valued at approximately $1,309,000. 31.54% of the stock is currently owned by institutional investors.
QuickLogic Company Profile
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Get Free Report)
QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that develops customizable, low-power semiconductor solutions and intellectual property for consumer, industrial, communications, and other electronic devices. Its technologies are designed to help manufacturers add processing, connectivity, display, and sensor capabilities while reducing development time and power consumption.
The company's offerings include embedded FPGA (eFPGA) intellectual property, which allows programmable logic to be integrated directly into a system-on-chip, as well as customer-specific standard products and related semiconductor solutions.
Further Reading
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