QuickLogic (NASDAQ:QUIK) Stock Price Crosses Above 200-Day Moving Average – Here’s What Happened

QuickLogic Co. (NASDAQ:QUIK)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.74 and traded as high as $9.20. QuickLogic shares last traded at $9.14, with a volume of 202,971 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on QUIK shares. Craig Hallum reduced their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. StockNews.com raised QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Northland Securities started coverage on shares of QuickLogic in a research note on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price for the company. Finally, Northland Capmk upgraded shares of QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $11.53.

QuickLogic Stock Performance

The firm has a market cap of $134.45 million, a PE ratio of -91.40 and a beta of 1.42. The stock has a 50-day moving average price of $8.62 and a 200 day moving average price of $8.74. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01). The business had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%. During the same period in the previous year, the business posted $0.08 earnings per share. Research analysts forecast that QuickLogic Co. will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the completion of the sale, the vice president now owns 108,004 shares of the company’s stock, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Elias Nader sold 8,711 shares of the company’s stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $64,374.29. Following the sale, the chief financial officer now owns 60,955 shares of the company’s stock, valued at $450,457.45. This represents a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,117 shares of company stock valued at $381,460. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp increased its position in shares of QuickLogic by 15.6% in the third quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock worth $1,522,000 after acquiring an additional 26,774 shares in the last quarter. Marshall Wace LLP boosted its position in QuickLogic by 118.4% during the 2nd quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after purchasing an additional 39,878 shares during the period. Bank of New York Mellon Corp increased its holdings in QuickLogic by 142.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 65,061 shares of the semiconductor company’s stock valued at $676,000 after purchasing an additional 38,273 shares in the last quarter. Squarepoint Ops LLC raised its position in QuickLogic by 194.3% in the second quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock valued at $573,000 after purchasing an additional 36,409 shares during the period. Finally, Barclays PLC lifted its stake in shares of QuickLogic by 34.8% during the third quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after purchasing an additional 5,079 shares in the last quarter. 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.