Insider Selling: QuickLogic Co. (NASDAQ:QUIK) CFO Sells 2,843 Shares of Stock

QuickLogic Co. (NASDAQ:QUIK - Get Free Report) CFO Elias Nader sold 2,843 shares of QuickLogic stock in a transaction that occurred on Wednesday, February 12th. The shares were sold at an average price of $6.75, for a total transaction of $19,190.25. Following the completion of the transaction, the chief financial officer now directly owns 62,785 shares in the company, valued at $423,798.75. This trade represents a 4.33 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Elias Nader also recently made the following trade(s):

• On Thursday, December 5th, Elias Nader sold 8,711 shares of QuickLogic stock. The stock was sold at an average price of $7.39, for a total transaction of $64,374.29.

QuickLogic Trading Up 13.8 %

QUIK stock traded up $1.00 during midday trading on Friday, hitting $8.25. The stock had a trading volume of 581,760 shares, compared to its average volume of 177,263. The firm has a market cap of $121.36 million, a P/E ratio of -82.50 and a beta of 1.39. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. QuickLogic Co. has a 1-year low of $6.75 and a 1-year high of $20.75. The business has a fifty day moving average price of $8.84 and a two-hundred day moving average price of $8.32.

Hedge Funds Weigh In On QuickLogic

Several institutional investors have recently made changes to their positions in the stock. Perkins Capital Management Inc. raised its holdings in shares of QuickLogic by 0.9% during the fourth quarter. Perkins Capital Management Inc. now owns 202,956 shares of the semiconductor company's stock valued at $2,293,000 after purchasing an additional 1,850 shares during the period. Barclays PLC raised its holdings in shares of QuickLogic by 11.0% during the fourth quarter. Barclays PLC now owns 21,834 shares of the semiconductor company's stock valued at $247,000 after purchasing an additional 2,158 shares during the period. Wells Fargo & Company MN raised its holdings in shares of QuickLogic by 49.4% during the fourth quarter. Wells Fargo & Company MN now owns 6,645 shares of the semiconductor company's stock valued at $75,000 after purchasing an additional 2,197 shares during the period. Crews Bank & Trust acquired a new position in shares of QuickLogic during the fourth quarter valued at about $28,000. Finally, Geode Capital Management LLC raised its holdings in shares of QuickLogic by 1.6% during the fourth quarter. Geode Capital Management LLC now owns 311,241 shares of the semiconductor company's stock valued at $3,518,000 after purchasing an additional 4,974 shares during the period. Institutional investors and hedge funds own 31.54% of the company's stock.

Analysts Set New Price Targets

QUIK has been the topic of several analyst reports. Northland Securities initiated coverage on shares of QuickLogic in a research note on Tuesday, December 17th. They issued an "outperform" rating and a $11.60 price objective on the stock. Craig Hallum reduced their price objective on shares of QuickLogic from $12.00 to $10.00 and set a "buy" rating on the stock in a research note on Tuesday, November 12th. Northland Capmk upgraded shares of QuickLogic to a "strong-buy" rating in a report on Tuesday, December 17th. Finally, StockNews.com upgraded shares of QuickLogic to a "sell" rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, QuickLogic currently has an average rating of "Moderate Buy" and a consensus price target of $11.53.

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.