QuickLogic (NASDAQ:QUIK) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

QuickLogic Corporation (NASDAQ:QUIK) shares crossed 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 trading hands.

Wall Street Analysts Forecast Growth

QUIK has been the subject of a number of analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a research note on Wednesday, June 24th. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Lake Street Capital reiterated a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Finally, Needham & Company LLC assumed coverage on QuickLogic in a research note on Wednesday, May 20th. They set a “buy” rating and a $22.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $22.00.

QuickLogic Stock Performance

The company has a market capitalization of $285.30 million, a P/E ratio of -17.58 and a beta of 1.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68. The business’s fifty day simple moving average is $19.61 and its 200-day simple moving average is $12.56.

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

Insider Transactions at QuickLogic

In other news, Director Michael J. Farese sold 4,800 shares of the company’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $11.71, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary H. Tauss sold 2,195 shares of the firm’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $19.20, for a total transaction of $42,144.00. Following the completion of the transaction, the director directly owned 15,908 shares of the company’s stock, valued at approximately $305,433.60. This trade represents a 12.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 53,975 shares of company stock worth $1,056,618. 3.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On QuickLogic

Institutional investors and hedge funds have recently made changes to their positions in the business. Tower Research Capital LLC TRC increased its holdings in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after buying an additional 4,902 shares during the last quarter. Cetera Investment Advisers bought a new position in shares of QuickLogic in the 1st quarter valued at about $111,000. SEB Asset Management AB purchased a new position in QuickLogic in the first quarter worth about $129,000. Squarepoint Ops LLC purchased a new position in QuickLogic in the fourth quarter worth about $84,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in QuickLogic during the first quarter worth approximately $151,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

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.