Royal Bank of Canada Purchases 345,762 Shares of QuickLogic Corporation $QUIK

Royal Bank of Canada raised its position in shares of QuickLogic Corporation (NASDAQ:QUIK) by 14,694.5% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 348,115 shares of the semiconductor company’s stock after purchasing an additional 345,762 shares during the period. Royal Bank of Canada’s holdings in QuickLogic were worth $3,266,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of QUIK. OMERS ADMINISTRATION Corp purchased a new stake in shares of QuickLogic in the 1st quarter worth about $151,000. Themes Management Co LLC bought a new position in shares of QuickLogic in the 1st quarter worth about $1,309,000. Sei Investments Co. purchased a new position in QuickLogic during the 1st quarter valued at about $987,000. Cetera Investment Advisers purchased a new position in QuickLogic during the 1st quarter valued at about $111,000. Finally, SEB Asset Management AB bought a new stake in QuickLogic during the first quarter worth about $129,000. Institutional investors own 31.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on QUIK shares. Wall Street Zen upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Lake Street Capital reiterated a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Finally, Needham & Company LLC cut their price target on QuickLogic from $22.00 to $20.00 and set a “buy” rating on the stock in a research note on Wednesday. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, QuickLogic currently has an average rating of “Hold” and an average target price of $21.00.

Insider Transactions at QuickLogic

In related news, CEO Brian C. Faith sold 41,480 shares of the firm’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total transaction of $848,266.00. Following the completion of the sale, the chief executive officer owned 228,412 shares of the company’s stock, valued at $4,671,025.40. This trade represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary H. Tauss sold 2,195 shares of the business’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the completion of the transaction, the director owned 15,908 shares of the company’s stock, valued at approximately $305,433.60. The trade was a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 49,175 shares of company stock worth $1,000,410. Corporate insiders own 3.20% of the company’s stock.

QuickLogic Price Performance

QUIK opened at $12.76 on Friday. The stock has a 50-day moving average price of $16.21 and a 200-day moving average price of $13.64. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 1.53. The firm has a market cap of $232.61 million, a PE ratio of -16.57 and a beta of 1.24. QuickLogic Corporation has a 1 year low of $4.80 and a 1 year high of $24.33.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Tuesday, August 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The firm had revenue of $5.48 million during the quarter, compared to the consensus estimate of $6.00 million. QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%. Sell-side analysts predict that QuickLogic Corporation will post -0.23 earnings per share for the current fiscal year.

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.