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Nader Elias, the Chief Financial Officer and Senior Vice President of Finance at QuickLogic Corp (NASDAQ:QUIK), recently sold shares of the company’s common stock. The semiconductor company, with a market capitalization of $107 million, has seen its stock decline significantly, currently trading near its 52-week low. The transaction, which took place on February 12, involved the sale of 2,843 shares at a weighted average price of approximately $6.75 per share, totaling $19,190. Following this sale, Elias holds 62,785 shares directly. The shares were sold to cover taxes from restricted stock units that vested earlier in February. Despite recent stock weakness, with shares down about 11% in the past week, InvestingPro data shows the company achieved impressive revenue growth of 23% in the last twelve months. For deeper insights into QuickLogic’s financial health and growth prospects, including 8 additional ProTips and comprehensive valuation metrics, visit InvestingPro.
In other recent news, QuickLogic Corporation has been exploring strategic alternatives for its AI subsidiary, SensiML, including a possible sale. This decision aligns with QuickLogic’s focus on its successful eFPGA Hard IP and ruggedized FPGA segments. The company has also appointed Andy Jaros as its new Vice President of IP Sales, leveraging his extensive industry experience to enhance QuickLogic’s sales strategies and market reach.
In the realm of financial analysis, Northland initiated coverage on QuickLogic shares with an Outperform rating, highlighting the company’s niche in the FPGA market and its strategic significance in the aerospace, defense, and critical infrastructure sectors.
QuickLogic recently announced its Q3 2024 financial results, reporting a revenue of $4.3 million, a 36% decrease year-over-year but a 4% increase from Q2 2024. Despite this, the company projects a Q4 revenue of around $6 million and aims for non-GAAP profitability for the quarter and the full year. These recent developments reflect QuickLogic’s strategic efforts to consolidate its core business and expand its market reach.
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