QuickLogic (NASDAQ:QUIK) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of QuickLogic Corporation (NASDAQ:QUIK) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $10.31 and traded as high as $23.02. QuickLogic shares last traded at $20.00, with a volume of 801,157 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms have weighed in on QUIK. Lake Street Capital reaffirmed a “buy” rating and set a $22.00 price target (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Needham & Company LLC began coverage on QuickLogic in a research note on Wednesday, May 20th. They set a “buy” rating and a $22.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Finally, Wall Street Zen raised shares of QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.00.

QuickLogic Trading Down 15.8%

The business’s 50 day moving average price is $15.79 and its 200-day moving average price is $10.31. 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 company has a market cap of $364.60 million, a price-to-earnings ratio of -22.47 and a beta of 1.18.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $5.51 million. On average, research analysts forecast that QuickLogic Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling at QuickLogic

In other news, Director Joyce Kim sold 5,500 shares of QuickLogic 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 sale, the director directly owned 2,140 shares in the company, valued at $42,800. This trade represents a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gary H. Tauss sold 2,195 shares of the company’s stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the sale, the director directly owned 15,908 shares in the company, valued at $305,433.60. This trade represents a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 61,517 shares of company stock worth $1,132,441 over the last quarter. Company insiders own 3.20% of the company’s stock.

Institutional Trading of QuickLogic

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in shares of QuickLogic by 246.5% in the second quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock valued at $42,000 after acquiring an additional 4,902 shares during the period. Stratos Wealth Advisors LLC bought a new position in QuickLogic in the 3rd quarter valued at approximately $71,000. Squarepoint Ops LLC acquired a new stake in QuickLogic during the 4th quarter valued at approximately $84,000. Jane Street Group LLC acquired a new stake in QuickLogic during the 1st quarter valued at approximately $87,000. Finally, Dimensional Fund Advisors LP acquired a new stake in QuickLogic during the 4th quarter valued at approximately $102,000. 31.54% of the stock is owned by 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.