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

Shares of QuickLogic Corporation (NASDAQ:QUIK) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.82 and traded as high as $13.77. QuickLogic shares last traded at $13.03, with a volume of 538,932 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages recently commented on QUIK. Needham & Company LLC started coverage on QuickLogic in a research note on Wednesday, May 20th. They set a “buy” rating and a $22.00 price objective for the company. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Lake Street Capital restated a “buy” rating and set a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, QuickLogic presently has an average rating of “Hold” and an average target price of $22.00.

QuickLogic Trading Down 8.0%

The company has a current ratio of 1.68, a quick ratio of 1.53 and a debt-to-equity ratio of 0.06. The stock has a market cap of $237.54 million, a price-to-earnings ratio of -14.64 and a beta of 1.17. The company has a fifty day simple moving average of $19.33 and a 200-day simple moving average of $12.82.

QuickLogic (NASDAQ:QUIK) last announced its earnings results 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 return on equity of 48.97% and a negative net margin of 102.41%.The firm had revenue of $5.05 million during the quarter, compared to analyst estimates of $5.51 million. On average, research analysts forecast that QuickLogic Corporation will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, Director Joyce Kim sold 5,500 shares of QuickLogic stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total transaction of $110,000.00. Following the transaction, the director owned 2,140 shares of the company’s stock, valued at $42,800. The trade was a 71.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 transaction of $848,266.00. Following the transaction, the chief executive officer directly 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 49,175 shares of company stock valued at $1,000,410 in the last 90 days. 3.20% of the stock is currently owned by corporate insiders.

Institutional Trading of QuickLogic

Several large investors have recently added to or reduced their stakes in QUIK. Royal Bank of Canada lifted its stake in shares of QuickLogic by 14,694.5% in the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock valued at $3,266,000 after purchasing an additional 345,762 shares during the last quarter. Cadent Capital Advisors LLC acquired a new position in QuickLogic during the fourth quarter worth $1,036,000. Themes Management Co LLC bought a new position in shares of QuickLogic in the 1st quarter valued at approximately $1,309,000. Sei Investments Co. bought a new position in shares of QuickLogic in the first quarter valued at approximately $987,000. Finally, Perkins Capital Management Inc. raised its holdings 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 acquiring an additional 70,750 shares during the period. 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.