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

QuickLogic Corporation (NASDAQ:QUIK)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred 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 Analyst Weigh In

QUIK has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Needham & Company LLC started coverage on QuickLogic in a report on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price target on the stock. Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Finally, Lake Street Capital reissued a “buy” rating and set a $22.00 price objective (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. 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 company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $22.00.

QuickLogic Price Performance

The business’s fifty day moving average price is $19.52 and its 200-day moving average price is $12.47. The company has a market capitalization of $285.66 million, a P/E ratio of -17.61 and a beta of 1.17. The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK) last issued its quarterly 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). The firm had revenue of $5.05 million for the quarter, compared to the consensus estimate of $5.51 million. QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%. As a group, sell-side analysts predict that QuickLogic Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other news, CEO Brian C. Faith sold 41,480 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total value of $848,266.00. Following the completion of the sale, the chief executive officer directly owned 228,412 shares in the company, valued at approximately $4,671,025.40. The trade was a 15.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael J. Farese sold 4,800 shares of QuickLogic stock in a transaction 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 completion of the transaction, the director owned 30,540 shares in the company, valued at approximately $357,623.40. The trade was a 13.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 53,975 shares of company stock valued at $1,056,618. 3.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of QUIK. Cadent Capital Advisors LLC purchased a new stake in QuickLogic during the 4th quarter valued at about $1,036,000. Perkins Capital Management Inc. increased its stake in QuickLogic by 34.5% in the 4th quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock worth $1,657,000 after purchasing an additional 70,750 shares during the period. Two Sigma Investments LP purchased a new position in QuickLogic in the 3rd quarter worth approximately $406,000. Jane Street Group LLC lifted its position in QuickLogic by 245.2% in the fourth quarter. Jane Street Group LLC now owns 47,906 shares of the semiconductor company’s stock valued at $288,000 after purchasing an additional 34,029 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its position in QuickLogic by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock valued at $282,000 after purchasing an additional 21,275 shares during the last quarter. Hedge funds and other institutional investors own 31.54% of the company’s stock.

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.