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

Shares of QuickLogic Corporation (NASDAQ:QUIK) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.69 and traded as high as $6.26. QuickLogic shares last traded at $6.06, with a volume of 188,595 shares.

Analysts Set New Price Targets

QUIK has been the subject of several research reports. Weiss Ratings reiterated a “sell (d)” rating on shares of QuickLogic in a report on Saturday, September 27th. Wall Street Zen cut QuickLogic from a “hold” rating to a “sell” rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $10.87.

QuickLogic Stock Performance

The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $99.57 million, a price-to-earnings ratio of -12.89 and a beta of 0.76. The stock’s fifty day simple moving average is $5.75 and its 200-day simple moving average is $5.69.

Insider Buying and Selling

In other news, VP Timothy Saxe sold 9,155 shares of QuickLogic stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.80, for a total value of $53,099.00. Following the completion of the transaction, the vice president owned 125,916 shares in the company, valued at approximately $730,312.80. This trade represents a 6.78% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Brian C. Faith sold 14,956 shares of the company’s stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $86,744.80. Following the sale, the chief executive officer owned 228,412 shares in the company, valued at $1,324,789.60. The trade was a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,836 shares of company stock valued at $189,133 in the last three months. 1.50% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On QuickLogic

Large investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in shares of QuickLogic by 40.5% in the 4th quarter. Bank of America Corp DE now owns 13,091 shares of the semiconductor company’s stock valued at $148,000 after purchasing an additional 3,773 shares in the last quarter. GAMMA Investing LLC raised its stake in QuickLogic by 5,920.0% in the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company’s stock valued at $32,000 after buying an additional 6,216 shares in the last quarter. 1492 Capital Management LLC purchased a new stake in QuickLogic during the 1st quarter worth about $784,000. Skandinaviska Enskilda Banken AB publ boosted its position in shares of QuickLogic by 111.2% during the 1st quarter. Skandinaviska Enskilda Banken AB publ now owns 41,948 shares of the semiconductor company’s stock worth $214,000 after acquiring an additional 22,083 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of QuickLogic by 94.2% during the 1st quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company’s stock worth $707,000 after acquiring an additional 67,110 shares in the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

About QuickLogic

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.