QuickLogic (NASDAQ:QUIK) Share Price Crosses Above 200 Day Moving Average – Here’s Why

QuickLogic Corporation (NASDAQ:QUIK)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $10.98 and traded as high as $22.72. QuickLogic shares last traded at $21.68, with a volume of 344,559 shares trading hands.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wall Street Zen upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Needham & Company LLC assumed coverage on shares of QuickLogic in a research note on Wednesday, May 20th. They set a “buy” rating and a $22.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Finally, Lake Street Capital restated a “buy” rating and set a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, QuickLogic currently has a consensus rating of “Hold” and an average target price of $22.00.

QuickLogic Price Performance

The business’s 50 day moving average price is $17.58 and its 200 day moving average price is $11.18. The stock has a market capitalization of $380.28 million, a P/E ratio of -23.44 and a beta of 1.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.53.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02). QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%.The company had revenue of $5.05 million during the quarter, compared to the consensus estimate of $5.51 million. Sell-side analysts forecast that QuickLogic Corporation will post -0.23 EPS for the current year.

Insider Activity at QuickLogic

In other news, Director Joyce Kim sold 5,500 shares of QuickLogic stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.00, for a total value of $110,000.00. Following the completion of the sale, the director directly owned 2,140 shares in the company, valued at $42,800. The trade was a 71.99% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gary H. Tauss sold 2,195 shares of QuickLogic stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the completion of the sale, the director owned 15,908 shares of the company’s stock, valued at $305,433.60. This represents a 12.13% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 57,975 shares of company stock valued at $1,097,858. Insiders own 3.20% of the company’s stock.

Institutional Trading of QuickLogic

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its stake in shares of QuickLogic by 246.5% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after acquiring an additional 4,902 shares during the period. Cetera Investment Advisers bought a new stake in QuickLogic during the first quarter valued at approximately $111,000. SEB Asset Management AB bought a new stake in QuickLogic during the first quarter valued at approximately $129,000. Squarepoint Ops LLC bought a new stake in QuickLogic during the fourth quarter valued at approximately $84,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in QuickLogic during the first quarter valued at approximately $151,000. 31.54% of the stock is currently owned by institutional investors.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.