QuickLogic (NASDAQ:QUIK) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

QuickLogic Corporation (NASDAQ:QUIK) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $6.07 and traded as high as $6.08. QuickLogic shares last traded at $5.95, with a volume of 73,521 shares changing hands.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Northland Capmk downgraded QuickLogic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, November 12th. Weiss Ratings restated a “sell (e+)” rating on shares of QuickLogic in a research note on Monday. Northland Securities lowered shares of QuickLogic from an “outperform” rating to a “market perform” rating in a research report on Wednesday, November 12th. Finally, Wall Street Zen downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, QuickLogic currently has an average rating of “Hold” and a consensus target price of $11.30.

QuickLogic Trading Down 1.0%

The company has a debt-to-equity ratio of 0.03, a current ratio of 1.27 and a quick ratio of 1.23. The business has a fifty day moving average of $6.49 and a 200-day moving average of $6.07. The stock has a market capitalization of $101.69 million, a price-to-earnings ratio of -12.66 and a beta of 0.74.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Wednesday, November 12th. The semiconductor company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. The company had revenue of $2.03 million during the quarter, compared to the consensus estimate of $2.05 million. QuickLogic had a negative net margin of 40.36% and a negative return on equity of 27.35%. On average, equities analysts anticipate that QuickLogic Corporation will post -0.29 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, VP Timothy Saxe sold 9,155 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $53,099.00. Following the completion of the sale, the vice president owned 125,916 shares in the company, valued at approximately $730,312.80. This represents a 6.78% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elias Nader sold 7,325 shares of the firm’s stock in a transaction on Friday, September 19th. The stock was sold at an average price of $5.80, for a total value of $42,485.00. Following the sale, the chief financial officer directly owned 82,006 shares of the company’s stock, valued at approximately $475,634.80. This represents a 8.20% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 32,836 shares of company stock worth $189,133. Corporate insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On QuickLogic

Institutional investors and hedge funds have recently modified their holdings of the stock. Skandinaviska Enskilda Banken AB publ lifted its holdings in shares of QuickLogic by 111.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 41,948 shares of the semiconductor company’s stock valued at $214,000 after purchasing an additional 22,083 shares during the last quarter. Deutsche Bank AG lifted its stake in QuickLogic by 94.2% during the first quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company’s stock valued at $707,000 after buying an additional 67,110 shares in the last quarter. Nuveen LLC acquired a new position in shares of QuickLogic in the first quarter worth about $95,000. Sprott Inc. increased its position in shares of QuickLogic by 86.7% in the first quarter. Sprott Inc. now owns 28,000 shares of the semiconductor company’s stock worth $143,000 after acquiring an additional 13,000 shares in the last quarter. Finally, Vident Advisory LLC acquired a new stake in shares of QuickLogic during the first quarter valued at approximately $109,000. 31.54% of the stock is owned by institutional investors and hedge funds.

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.