QuickLogic (NASDAQ:QUIK) Stock Crosses Above Two Hundred Day Moving Average – Should You Sell?

QuickLogic Corporation (NASDAQ:QUIK)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $11.61 and traded as high as $21.85. QuickLogic shares last traded at $19.93, with a volume of 591,924 shares.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on QUIK shares. Wall Street Zen raised shares of QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Lake Street Capital reiterated 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, Needham & Company LLC initiated coverage on shares of QuickLogic in a research report on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, QuickLogic has an average rating of “Hold” and an average target price of $22.00.

QuickLogic Stock Down 9.1%

The firm has a 50-day simple moving average of $18.45 and a 200 day simple moving average of $11.61. The company has a market capitalization of $363.32 million, a PE ratio of -22.39 and a beta of 1.18. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.53.

QuickLogic (NASDAQ:QUIK) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share 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, research analysts predict that QuickLogic Corporation will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Michael J. Farese sold 4,800 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 30,540 shares of the company’s stock, valued at approximately $357,623.40. The trade was a 13.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Gary H. Tauss sold 2,195 shares of the company’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.20, for a total value of $42,144.00. Following the completion of the transaction, the director owned 15,908 shares of the company’s stock, valued at approximately $305,433.60. This represents a 12.13% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 57,975 shares of company stock valued at $1,097,858. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its stake 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 purchasing an additional 4,902 shares during the period. Cetera Investment Advisers purchased a new stake in QuickLogic during the 1st quarter worth $111,000. SEB Asset Management AB purchased a new stake in QuickLogic during the 1st quarter worth $129,000. Squarepoint Ops LLC acquired a new position in QuickLogic in the 4th quarter worth $84,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in QuickLogic in the 1st quarter worth $151,000. 31.54% of the stock is owned by institutional investors and hedge funds.

QuickLogic Company Profile

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.