Key Points
- QuickLogic CFO Elias Nader sold 8,291 shares at an average price of $10.21, generating $84,651.11 and reducing his ownership by 8.54% to 88,845 shares. He also sold 12,152 shares the prior week.
- QuickLogic reported a quarterly loss of $0.06 per share, missing estimates by $0.02, while revenue of $5.48 million fell short of the $6.00 million consensus forecast.
- Analyst sentiment is mixed, with a consensus “Hold” rating and a $21.00 price target; the stock opened at $10.72 and is down from its 52-week high of $24.33.
QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) CFO Elias Nader sold 8,291 shares of the stock in a transaction that occurred on Thursday, September 17th. The stock was sold at an average price of $10.21, for a total value of $84,651.11. Following the transaction, the chief financial officer owned 88,845 shares in the company, valued at $907,107.45. The trade was a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Elias Nader also recently made the following trade(s):
- On Thursday, September 10th, Elias Nader sold 12,152 shares of QuickLogic stock. The shares were sold at an average price of $10.80, for a total transaction of $131,241.60.
QuickLogic Stock Up 1.9%
QuickLogic stock opened at $10.72 on Friday. QuickLogic Corporation has a 1-year low of $5.28 and a 1-year high of $24.33. The firm has a market capitalization of $196.39 million, a price-to-earnings ratio of -13.92 and a beta of 1.20. The firm's fifty day moving average price is $12.19 and its two-hundred day moving average price is $14.24. The company has a current ratio of 2.15, a quick ratio of 2.06 and a debt-to-equity ratio of 0.03.
QuickLogic (NASDAQ:QUIK - Get Free Report) last posted its earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02). QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%.The business had revenue of $5.48 million for the quarter, compared to the consensus estimate of $6.00 million. On average, equities research analysts predict that QuickLogic Corporation will post -0.26 earnings per share for the current fiscal year.
Institutional Trading of QuickLogic
Large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada raised its position in QuickLogic by 14,694.5% in the first 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. Perkins Capital Management Inc. grew its position in shares of QuickLogic by 11.2% during the 1st quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company's stock valued at $2,877,000 after acquiring an additional 31,000 shares during the period. Themes Management Co LLC purchased a new stake in shares of QuickLogic during the 1st quarter worth approximately $1,309,000. Sei Investments Co. bought a new stake in shares of QuickLogic in the 1st quarter worth approximately $987,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of QuickLogic in the 2nd quarter worth approximately $754,000. Hedge funds and other institutional investors own 31.54% of the company's stock.
Wall Street Analysts Forecast Growth
Several brokerages recently issued reports on QUIK. Weiss Ratings reiterated a "sell (d-)" rating on shares of QuickLogic in a report on Wednesday, June 24th. Needham & Company LLC cut their price objective 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. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QuickLogic presently has a consensus rating of "Hold" and a consensus price target of $21.00.
Check Out Our Latest Stock Report on QuickLogic
QuickLogic Company Profile
(
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.
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