In a recent transaction on April 2, Timothy Saxe, the Senior Vice President and Chief Technology Officer of QuickLogic Corp (NASDAQ:QUIK), sold shares of the company's common stock. The sale totaled $30,681 worth of stock at an average price of $15.5429 per share.
The transaction involved the sale of 1,974 shares, with prices ranging from $15.32 to $15.55. This sale was executed to cover the taxes associated with performance stock units that vested on March 28, 2024. Following the sale, Saxe retains ownership of 124,136 shares of QuickLogic Corp.
Investors and market watchers often keep an eye on insider transactions such as these, as they can provide insights into an executive's view of the company's future prospects. QuickLogic Corp, based in San Jose, California, specializes in semiconductors and related devices, and is known for its innovative contributions to the industry.
The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission, with the reporting person undertaking to provide full information regarding the number of shares sold at each price upon request.
InvestingPro Insights
QuickLogic Corp (NASDAQ:QUIK) has shown a remarkable 154.38% return on its stock price over the past year, reflecting investor optimism. In line with this performance, an InvestingPro Tip suggests that the stock price movements are quite volatile, which can be an important consideration for investors looking for growth opportunities with a higher risk-reward profile.
Despite recent insider sales, the company's market capitalization stands at a robust $213.07M. Another InvestingPro Tip highlights that analysts predict the company will be profitable this year, which could indicate a potential turnaround from the lack of profitability over the last twelve months. This expected growth in net income may be a driving factor behind the company's high valuation multiples, with a Price / Book ratio of 12.61 as of the last twelve months ending Q4 2023.
The company's revenue growth also appears strong, with a significant quarterly increase of 83.13% in Q4 2023. This kind of growth can often be a positive signal to the market, suggesting that the company is expanding its business successfully.
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