Elias Nader Sells 8,711 Shares of QuickLogic Co. (NASDAQ:QUIK) Stock

QuickLogic Co. (NASDAQ:QUIK) CFO Elias Nader sold 8,711 shares of the firm’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the sale, the chief financial officer now directly owns 60,955 shares of the company’s stock, valued at approximately $450,457.45. This represents a 12.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

QuickLogic Price Performance

Shares of NASDAQ QUIK opened at $7.60 on Tuesday. The stock has a fifty day moving average of $7.89 and a 200-day moving average of $9.18. The stock has a market cap of $111.80 million, a PE ratio of -76.00 and a beta of 1.59. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. QuickLogic Co. has a fifty-two week low of $6.75 and a fifty-two week high of $20.75.

QuickLogic (NASDAQ:QUIK) last posted its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same quarter in the prior year, the company earned $0.08 earnings per share. Equities research analysts anticipate that QuickLogic Co. will post -0.29 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QUIK. State Street Corp grew its position in QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after acquiring an additional 26,774 shares in the last quarter. Raymond James & Associates boosted its stake in shares of QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock valued at $1,343,000 after purchasing an additional 58,668 shares during the period. Marshall Wace LLP grew its holdings in QuickLogic by 118.4% in the 2nd 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 last quarter. Bank of New York Mellon Corp increased its holdings in QuickLogic by 142.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 38,273 shares during the period. Finally, Squarepoint Ops LLC raised its holdings in shares of QuickLogic by 194.3% during the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after acquiring an additional 36,409 shares in the last quarter. 31.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Oppenheimer decreased their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research note on Monday, December 2nd. Finally, Craig Hallum lowered their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th.

QuickLogic Company Profile

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.