QuickLogic (NASDAQ:QUIK) Shares Pass Above 200-Day Moving Average – Should You Sell?

QuickLogic Corporation (NASDAQ:QUIK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $12.47 and traded as high as $15.81. QuickLogic shares last traded at $15.67, with a volume of 330,416 shares.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on QUIK shares. Lake Street Capital reissued a “buy” rating and set a $22.00 price target (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Needham & Company LLC began 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. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $22.00.

QuickLogic Stock Performance

The firm has a market capitalization of $285.66 million, a P/E ratio of -17.61 and a beta of 1.17. The company has a 50-day simple moving average of $19.52 and a two-hundred day simple moving average of $12.47. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68.

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

Insider Transactions at QuickLogic

In other news, Director Michael J. Farese sold 4,800 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $11.71, for a total value of $56,208.00. Following the sale, the director directly owned 30,540 shares of the company’s stock, valued at $357,623.40. This represents a 13.58% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Joyce Kim sold 5,500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total transaction of $110,000.00. Following the completion of the transaction, the director owned 2,140 shares of the company’s stock, valued at approximately $42,800. The trade was a 71.99% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 53,975 shares of company stock worth $1,056,618. Corporate insiders own 3.20% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Several hedge funds have recently bought and sold shares of QUIK. Royal Bank of Canada grew its holdings in QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after purchasing an additional 345,762 shares during the period. Cadent Capital Advisors LLC purchased a new position in shares of QuickLogic during the fourth quarter valued at approximately $1,036,000. Themes Management Co LLC purchased a new position in shares of QuickLogic during the first quarter valued at approximately $1,309,000. Sei Investments Co. bought a new stake in shares of QuickLogic in the 1st quarter worth approximately $987,000. Finally, Perkins Capital Management Inc. boosted its position in shares of QuickLogic by 34.5% in the 4th quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock worth $1,657,000 after purchasing an additional 70,750 shares in the last quarter. Institutional investors own 31.54% of the company’s stock.

About QuickLogic

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.