Insider Selling: QuickLogic Co. (NASDAQ:QUIK) Director Sells 4,542 Shares of Stock
QuickLogic Co. (NASDAQ:QUIK – Get Rating) Director Russell Christine sold 4,542 shares of the stock in a transaction on Wednesday, June 8th. The stock was sold at an average price of $7.69, for a total value of $34,927.98. Following the completion of the sale, the director now directly owns 1 shares in the company, valued at $7.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of QuickLogic stock traded down $0.01 during trading on Thursday, hitting $7.71. 53,709 shares of the company’s stock traded hands, compared to its average volume of 43,015. QuickLogic Co. has a 1 year low of $4.25 and a 1 year high of $8.00. The business has a 50-day simple moving average of $5.68 and a 200-day simple moving average of $5.35. The stock has a market capitalization of $95.57 million, a P/E ratio of -14.96 and a beta of 2.15.
QuickLogic (NASDAQ:QUIK – Get Rating) last posted its earnings results on Tuesday, May 17th. The semiconductor company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. QuickLogic had a negative return on equity of 64.64% and a negative net margin of 41.89%. The company had revenue of $4.10 million for the quarter, compared to the consensus estimate of $4.00 million. During the same quarter in the prior year, the company earned ($0.15) earnings per share. Research analysts expect that QuickLogic Co. will post -0.27 EPS for the current year.
A number of hedge funds have recently bought and sold shares of QUIK. Morgan Stanley lifted its holdings in QuickLogic by 40.1% in the first quarter. Morgan Stanley now owns 6,647 shares of the semiconductor company’s stock valued at $46,000 after acquiring an additional 1,904 shares during the period. Millennium Management LLC raised its stake in shares of QuickLogic by 60.3% in the fourth quarter. Millennium Management LLC now owns 19,107 shares of the semiconductor company’s stock worth $98,000 after buying an additional 7,189 shares during the period. JPMorgan Chase & Co. raised its stake in shares of QuickLogic by 504.9% in the fourth quarter. JPMorgan Chase & Co. now owns 21,173 shares of the semiconductor company’s stock worth $108,000 after buying an additional 17,673 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of QuickLogic by 14.6% in the fourth quarter. Envestnet Asset Management Inc. now owns 25,452 shares of the semiconductor company’s stock worth $130,000 after buying an additional 3,240 shares during the period. Finally, State Street Corp raised its stake in shares of QuickLogic by 10.4% in the first quarter. State Street Corp now owns 31,681 shares of the semiconductor company’s stock worth $174,000 after buying an additional 2,973 shares during the period. 20.72% of the stock is currently owned by institutional investors.
Several research firms recently commented on QUIK. Oppenheimer dropped their price objective on QuickLogic to $8.00 and set a “na” rating on the stock in a research report on Wednesday, May 18th. Zacks Investment Research cut QuickLogic from a “buy” rating to a “hold” rating in a research report on Wednesday, April 20th. Finally, StockNews.com began coverage on QuickLogic in a research report on Monday. They set a “hold” rating on the stock.
QuickLogic Company Profile (Get Rating)
QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable, hearable, tablets, and the Internet-of-Things devices. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low power field programmable gate arrays (FPGAs); and analytics toolkit, an end-to-end software suite that offers processes for developing pattern matching sensor algorithms using machine learning technology, as well as programming hardware and design software solutions.
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