Brian C. Faith Sells 27,866 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) CEO Brian C. Faith sold 27,866 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total transaction of $246,056.78. Following the sale, the chief executive officer now directly owns 215,849 shares in the company, valued at $1,905,946.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

QuickLogic Price Performance

NASDAQ:QUIK opened at $8.16 on Thursday. QuickLogic Co. has a one year low of $7.62 and a one year high of $20.75. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.21. The firm has a market cap of $117.70 million, a price-to-earnings ratio of 136.00 and a beta of 1.63. The firm’s fifty day moving average is $10.12 and its two-hundred day moving average is $12.50.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings results on Tuesday, August 13th. The semiconductor company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.06). The business had revenue of $4.13 million during the quarter, compared to analysts’ expectations of $4.50 million. QuickLogic had a net margin of 7.38% and a return on equity of 9.56%. During the same period in the previous year, the company posted ($0.17) earnings per share. Research analysts expect that QuickLogic Co. will post 0.22 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on QUIK. Craig Hallum dropped their price objective on shares of QuickLogic from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday, August 14th. StockNews.com lowered shares of QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Finally, Oppenheimer lowered their price target on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of QUIK. Essex Investment Management Co. LLC acquired a new position in shares of QuickLogic in the first quarter worth about $1,719,000. Raymond James & Associates raised its position in shares of 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. Marshall Wace LLP raised its position in shares of QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after acquiring an additional 39,878 shares during the period. Bank of New York Mellon Corp raised its position in shares of QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after acquiring an additional 38,273 shares during the period. Finally, Squarepoint Ops LLC raised its position in shares of QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares during the period. Institutional investors and hedge funds own 31.54% of the company’s stock.

About QuickLogic

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.