QuickLogic Corp (NASDAQ:QUIK) has reported a significant stock transaction by a high-ranking executive, according to a recent filing with the Securities and Exchange Commission. Timothy Saxe, the Senior Vice President and Chief Technology Officer of QuickLogic, sold a total of 10,000 shares of company stock.
The transactions, which took place on March 21, 2024, were executed at varying prices, with a range between $16.2799 and $17.58 per share. The total value of the shares sold by Saxe amounted to approximately $163,319. It is noteworthy that the sales were conducted under a pre-arranged Rule 10b5-1 trading plan, which was adopted on November 21, 2023. This plan allows company insiders to sell shares over a predetermined period of time to avoid concerns about transactions based on access to nonpublic information.
Following the sale, Saxe still holds a substantial number of shares in QuickLogic, with his holdings standing at 120,755 shares post-transaction. The stock sale and the remaining ownership stake demonstrate a balancing act between personal asset management and continued confidence in the company's prospects.
Investors often monitor insider transactions as they can provide insights into executives' perspectives on the company's future performance. However, these transactions may not always be indicative of the company's operational health or future stock performance but rather reflect individual financial planning strategies.
QuickLogic specializes in semiconductors and related devices, and as a key figure in the company, Saxe's transactions are closely watched. The company has not made any official statements regarding the stock sale at this time.
InvestingPro Insights
QuickLogic Corp's recent insider stock transaction by Timothy Saxe, the company's Senior Vice President and Chief Technology Officer, has drawn attention to the company's financial performance and stock valuation. In light of this event, here are some key metrics and InvestingPro Tips that provide a broader context to the company's current situation:
InvestingPro Data:
- QuickLogic's market capitalization stands at $234.84 million, reflecting the market's valuation of the company.
- The company's revenue growth has been robust, with an increase of 31.01% over the last twelve months as of Q4 2023. This is complemented by an even more impressive quarterly revenue growth of 83.13% in Q4 2023.
- Despite these growth figures, QuickLogic's profitability remains a concern, as indicated by a negative P/E ratio of -814.00 and an adjusted P/E ratio of -932.58 for the same period.
InvestingPro Tips:
- Analysts predict that QuickLogic will be profitable this year, which could be a turning point for the company if these projections materialize.
- The stock price movements of QuickLogic have been quite volatile, which may be of interest to investors looking for high-risk, high-reward opportunities.
For investors seeking more detailed analysis and additional insights, there are 13 more InvestingPro Tips available for QuickLogic at https://www.investing.com/pro/QUIK. These tips can help investors make more informed decisions, especially in the context of the recent insider selling activity. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
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