QuickLogic (NASDAQ:QUIK) Share Price Crosses Above 200 Day Moving Average – What’s Next?

QuickLogic Corporation (NASDAQ:QUIK) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.70 and traded as high as $22.47. QuickLogic shares last traded at $21.56, with a volume of 502,568 shares changing hands.

Wall Street Analyst Weigh In

QUIK has been the subject of several analyst reports. Wall Street Zen raised shares of QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Needham & Company LLC assumed coverage on shares of QuickLogic in a report on Wednesday, May 20th. They issued a “buy” rating and a $22.00 target price on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Finally, Lake Street Capital restated a “buy” rating and issued a $22.00 target price (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $22.00.

QuickLogic Stock Down 4.3%

The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $14.32 and its 200-day moving average is $9.70. The company has a market cap of $393.04 million, a PE ratio of -24.22 and a beta of 1.11.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $5.51 million. On average, analysts predict that QuickLogic Corporation will post -0.2 EPS for the current year.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, Director Joyce Kim sold 5,500 shares of the 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 transaction, the director directly owned 2,140 shares in the company, valued at approximately $42,800. This trade represents a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian C. Faith sold 41,480 shares of the stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total transaction of $848,266.00. Following the completion of the transaction, the chief executive officer owned 228,412 shares in the company, valued at $4,671,025.40. The trade was a 15.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 63,845 shares of company stock valued at $1,154,347 over the last three months. Insiders own 3.20% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Institutional investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC boosted its stake in shares of QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after purchasing an additional 4,902 shares during the period. Stratos Wealth Advisors LLC bought a new stake in shares of QuickLogic in the 3rd quarter valued at about $71,000. Squarepoint Ops LLC bought a new position in shares of QuickLogic during the 4th quarter worth approximately $84,000. Jane Street Group LLC bought a new position in shares of QuickLogic during the 1st quarter worth approximately $87,000. Finally, Dimensional Fund Advisors LP bought a new position in shares of QuickLogic during the 4th quarter worth approximately $102,000. 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.