QuickLogic (NASDAQ:QUIK) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

QuickLogic Corporation (NASDAQ:QUIK) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.06 and traded as high as $9.92. QuickLogic shares last traded at $9.62, with a volume of 120,389 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Lake Street Capital assumed coverage on QuickLogic in a report on Monday, February 9th. They set a “buy” rating and a $10.00 target price for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Two investment 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. Based on data from MarketBeat, QuickLogic currently has an average rating of “Hold” and an average target price of $10.50.

QuickLogic Price Performance

The stock has a market capitalization of $162.87 million, a PE ratio of -10.59 and a beta of 0.60. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14. The firm’s 50 day simple moving average is $8.27 and its 200 day simple moving average is $7.09.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.06). The business had revenue of $3.73 million for the quarter, compared to the consensus estimate of $3.50 million. QuickLogic had a negative net margin of 107.70% and a negative return on equity of 45.83%. As a group, equities analysts forecast that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its holdings in QuickLogic by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock valued at $282,000 after buying an additional 21,275 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of QuickLogic in the first quarter valued at about $87,000. XTX Topco Ltd purchased a new position in shares of QuickLogic in the second quarter valued at about $171,000. Qube Research & Technologies Ltd raised its stake in shares of QuickLogic by 40.6% during the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after acquiring an additional 28,751 shares during the last quarter. Finally, Raymond James Financial Inc. boosted its holdings in shares of QuickLogic by 2.8% during the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after purchasing an additional 5,721 shares during the period. 31.54% of the stock is currently owned by institutional investors.

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.