QuickLogic (NASDAQ:QUIK) Stock Crosses Above 200 Day Moving Average – Here’s Why

QuickLogic Corporation (NASDAQ:QUIK) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $7.28 and traded as high as $10.37. QuickLogic shares last traded at $9.90, with a volume of 175,699 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on QUIK shares. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Lake Street Capital assumed coverage on shares of QuickLogic in a research note on Monday, February 9th. They set a “buy” rating and a $10.00 target price on the stock. Two equities research 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’s stock. Based on data from MarketBeat.com, QuickLogic currently has an average rating of “Hold” and an average target price of $10.50.

QuickLogic Stock Up 0.7%

The company has a debt-to-equity ratio of 0.04, a current ratio of 1.14 and a quick ratio of 1.14. The firm has a market capitalization of $177.38 million, a P/E ratio of -11.12 and a beta of 0.59. The company’s 50-day simple moving average is $8.47 and its two-hundred day simple moving average is $7.33.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Tuesday, March 3rd. The semiconductor company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 47.54% and a negative net margin of 107.70%.The business had revenue of $3.73 million during the quarter, compared to the consensus estimate of $3.50 million. As a group, research analysts expect that QuickLogic Corporation will post -0.29 earnings per share for the current year.

Insiders Place Their Bets

In other QuickLogic news, Director Michael J. Farese sold 4,000 shares of the stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $10.31, for a total value of $41,240.00. Following the transaction, the director directly owned 35,340 shares in the company, valued at approximately $364,355.40. This trade represents a 10.17% 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. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 12,494 shares of company stock valued at $116,307 in the last 90 days. 1.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On QuickLogic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in QUIK. Goldman Sachs Group Inc. raised its stake in QuickLogic by 62.8% during the 1st quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock worth $282,000 after acquiring an additional 21,275 shares during the period. Jane Street Group LLC bought a new stake in QuickLogic during the 1st quarter worth approximately $87,000. XTX Topco Ltd bought a new stake in QuickLogic during the 2nd quarter worth approximately $171,000. Qube Research & Technologies Ltd raised its stake in QuickLogic by 40.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock worth $613,000 after acquiring an additional 28,751 shares during the period. Finally, Raymond James Financial Inc. raised its stake in QuickLogic by 2.8% during the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 5,721 shares during the period. Institutional investors own 31.54% of the company’s stock.

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.