Michael Farese Sells 4,000 Shares of QuickLogic (NASDAQ:QUIK) Stock
by Mitch Edgeman · The Markets DailyQuickLogic Corporation (NASDAQ:QUIK – Get Free Report) Director Michael Farese sold 4,000 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $10.31, for a total transaction of $41,240.00. Following the completion of the transaction, the director directly owned 35,340 shares of the company’s stock, valued at approximately $364,355.40. This trade represents a 10.17% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
QuickLogic Price Performance
QuickLogic stock traded up $0.04 during mid-day trading on Tuesday, reaching $9.94. The company had a trading volume of 181,413 shares, compared to its average volume of 189,182. QuickLogic Corporation has a 1 year low of $4.32 and a 1 year high of $10.36. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.14 and a quick ratio of 1.14. The company has a market capitalization of $176.14 million, a P/E ratio of -11.04 and a beta of 0.59. The stock’s 50-day simple moving average is $8.40 and its 200-day simple moving average is $7.28.
QuickLogic (NASDAQ:QUIK – Get Free Report) last issued its earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative net margin of 107.70% and a negative return on equity of 47.54%. The company had revenue of $3.73 million during the quarter, compared to analysts’ expectations of $3.50 million. On average, equities analysts predict that QuickLogic Corporation will post -0.29 EPS for the current year.
Institutional Trading of QuickLogic
Hedge funds have recently bought and sold shares of the company. Cadent Capital Advisors LLC acquired a new stake in QuickLogic during the fourth quarter worth approximately $1,036,000. Raymond James Financial Inc. boosted its position in QuickLogic by 2.8% during the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 5,721 shares during the last quarter. Vanguard Group Inc. boosted its position in QuickLogic by 4.6% during the third quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock worth $3,975,000 after acquiring an additional 28,587 shares during the last quarter. State Street Corp boosted its position in QuickLogic by 5.0% during the fourth quarter. State Street Corp now owns 65,056 shares of the semiconductor company’s stock worth $391,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in QuickLogic by 245.2% during the fourth quarter. Jane Street Group LLC now owns 47,906 shares of the semiconductor company’s stock worth $288,000 after acquiring an additional 34,029 shares during the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Lake Street Capital assumed coverage on shares of QuickLogic in a research report on Monday, February 9th. They issued a “buy” rating and a $10.00 price target on the stock. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $10.50.
Read Our Latest Stock Analysis on QuickLogic
About QuickLogic
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.