QuickLogic Corp CFO Sells Shares Worth Over $33,000 - What Does This Mean for Investors? - InvestingPro Analysis
In a recent transaction, QuickLogic Corp's Chief Financial Officer, Nader Elias, sold 4,458 shares of the company's common stock, resulting in proceeds exceeding $33,000. Despite this sale, Elias still holds a substantial number of shares in the company. The sale was conducted to address a tax liability that arose from under-withholding of shares in previous years.
QuickLogic Corporation reported a 41% year-over-year increase in Q2 fiscal 2024 earnings, with revenue reaching $4.1 million. The company adjusted its full-year growth projection to 15%, emphasizing no contracts were lost. QuickLogic expects a revenue rebound in Q4 and accelerated growth thereafter.
As QuickLogic Corp navigates the semiconductor industry, InvestingPro data reveals robust revenue growth and stock performance. With a market capitalization of $105.31 million, QuickLogic's revenue growth has been significant. The stock's P/E ratio is 57.3, suggesting potential undervaluation. However, the stock has experienced significant volatility, with a decline of 39.69% in the last three months.
Investors should consider the RSI indicating oversold territory and potential for a rebound. QuickLogic's strategic alliances and innovative products position it for future growth opportunities. Understanding these market trends can help investors make informed decisions about QuickLogic Corp's stock.