QuickLogic Co. (NASDAQ:QUIK) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC reduced its stake in QuickLogic Co. (NASDAQ:QUIK) by 1.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 306,267 shares of the semiconductor company’s stock after selling 5,449 shares during the period. Geode Capital Management LLC’s holdings in QuickLogic were worth $2,349,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. State Street Corp boosted its position in QuickLogic by 15.6% during the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after purchasing an additional 26,774 shares during the period. Marshall Wace LLP lifted its position in QuickLogic by 118.4% in the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp boosted its stake 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. Squarepoint Ops LLC grew its position in QuickLogic by 194.3% in the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after purchasing an additional 36,409 shares during the last quarter. Finally, Barclays PLC grew its position in QuickLogic by 34.8% in the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares during the last quarter. 31.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

QUIK has been the topic of a number of recent analyst reports. Craig Hallum cut their price target on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. Northland Securities began coverage on QuickLogic in a research report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 price target for the company. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. One analyst has rated the stock with a sell rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.53.

Insider Activity

In other news, VP Timothy Saxe sold 10,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the sale, the vice president now directly owns 108,004 shares of the company’s stock, valued at $750,627.80. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elias Nader sold 8,711 shares of the business’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $64,374.29. Following the transaction, the chief financial officer now directly owns 60,955 shares in the company, valued at $450,457.45. The trade was a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,117 shares of company stock worth $381,460 over the last 90 days. 2.49% of the stock is owned by company insiders.

QuickLogic Stock Down 10.3 %

QUIK stock opened at $10.68 on Wednesday. The firm has a market cap of $157.07 million, a PE ratio of -106.80 and a beta of 1.42. QuickLogic Co. has a 12 month low of $6.75 and a 12 month high of $20.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. The firm has a 50 day simple moving average of $8.35 and a 200 day simple moving average of $8.83.

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

QuickLogic 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.