QuickLogic (NASDAQ:QUIK) Corporation's (NASDAQ:QUIK) CFO and SVP of Finance, Nader Elias, recently sold company shares, totaling over $38,000. The transaction, which took place on April 2, 2024, involved the sale of 2,474 shares of common stock at a weighted average price of approximately $15.54.
The shares sold by Elias were part of a tax-related sale connected to the vesting of performance stock units on March 28, 2024. According to the SEC filing, the stock was sold in multiple transactions with prices ranging from $15.266 to $15.55. Following this sale, Elias still owns a total of 44,207 shares in QuickLogic.
This latest transaction provides insight into the trading activities of QuickLogic's executives and may be of interest to current and potential investors. The company, which specializes in semiconductors and related devices, has its headquarters in San Jose, California.
Investors and security holders may request additional information regarding the specific prices at which the shares were sold from the reporting person, as per the SEC filing. The sale was officially documented on April 4, 2024, with Harjit Lally signing as Attorney-in-Fact.
InvestingPro Insights
Following the recent news of QuickLogic Corporation's (NASDAQ:QUIK) CFO, Nader Elias, selling a portion of his company shares, investors might be looking for additional financial metrics to better understand the company's current market position. According to InvestingPro data, QuickLogic has a market capitalization of $213.07 million and has experienced a substantial revenue growth of 31.01% over the last twelve months as of Q4 2023. This growth is even more pronounced when looking at the quarterly figure, which shows an 83.13% increase in revenue for Q4 2023.
Despite QuickLogic's strong revenue growth, the company's profitability metrics tell a different story. The company is currently trading with a negative P/E ratio of -752.00, which further adjusted for the last twelve months is at -810.16. This indicates that the company has not been profitable over the last year. However, the InvestingPro Tips suggest that QuickLogic is expected to turn a profit this year, which could be a positive sign for potential investors. Additionally, the stock has experienced a large price uptick over the last six months, with a 74.51% return, reflecting investor optimism.
It's also worth noting that QuickLogic operates with a moderate level of debt and does not pay a dividend to shareholders, which could influence investment strategies. For those considering an investment in QuickLogic, or for current investors looking to deepen their analysis, there are 11 additional InvestingPro Tips available at: https://www.investing.com/pro/QUIK. These tips can provide more detailed insights into the company's financial health and future prospects. Moreover, users can take advantage of an additional 10% off a yearly or biyearly Pro and Pro+ subscription with the coupon code PRONEWS24.
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