QuickLogic (NASDAQ:QUIK) Stock Crosses Above Two Hundred Day Moving Average – Here’s Why

QuickLogic Co. (NASDAQ:QUIK) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.83 and traded as high as $9.32. QuickLogic shares last traded at $9.24, with a volume of 175,523 shares changing hands.

Wall Street Analyst Weigh In

QUIK has been the topic of several research analyst reports. Northland Securities assumed coverage on QuickLogic in a research note on Tuesday, December 17th. They set an “outperform” rating and a $11.60 price objective on the stock. Craig Hallum dropped their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday, November 12th. StockNews.com raised shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a research note on Tuesday, December 17th. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, QuickLogic presently has an average rating of “Moderate Buy” and a consensus target price of $11.53.

QuickLogic Stock Down 1.8 %

The firm’s fifty day moving average price is $7.86 and its 200-day moving average price is $8.83. The firm has a market capitalization of $135.89 million, a P/E ratio of -92.40 and a beta of 1.59. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.01). QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. The firm had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same quarter last year, the company posted $0.08 EPS. As a group, equities research analysts forecast that QuickLogic Co. will post -0.29 earnings per share for the current year.

Insider Activity

In related news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total transaction of $69,500.00. Following the transaction, the vice president now directly owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Brian C. Faith sold 21,402 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total transaction of $158,160.78. Following the completion of the transaction, the chief executive officer now owns 193,584 shares in the company, valued at approximately $1,430,585.76. This represents a 9.96 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 52,117 shares of company stock worth $381,460. 2.49% of the stock is owned by corporate insiders.

Institutional Trading of QuickLogic

A number of institutional investors have recently bought and sold shares of QUIK. State Street Corp raised its stake in shares of QuickLogic by 15.6% during the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after purchasing an additional 26,774 shares in the last quarter. Raymond James & Associates raised its position in QuickLogic by 83.1% during the second quarter. Raymond James & Associates now owns 129,292 shares of the semiconductor company’s stock valued at $1,343,000 after acquiring an additional 58,668 shares in the last quarter. Marshall Wace LLP lifted its stake in QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after acquiring an additional 39,878 shares during the last quarter. Bank of New York Mellon Corp grew its position in QuickLogic by 142.9% in the second quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock worth $676,000 after acquiring an additional 38,273 shares in the last quarter. Finally, Squarepoint Ops LLC increased its stake in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after purchasing an additional 36,409 shares during the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation operates as a fabless semiconductor company in the United States. The company offers embedded FPGA intellectual property, low power, multicore semiconductor system-on-chips, discrete FPGAs, and AI software; and end-to-end artificial intelligence/machine learning solution with accurate sensor algorithms using AI technology.