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

QuickLogic Corporation (NASDAQ:QUIK)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $12.82 and traded as high as $13.77. QuickLogic shares last traded at $13.03, with a volume of 538,932 shares.

Analyst Upgrades and Downgrades

Several research firms have recently commented on QUIK. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a report on Wednesday, June 24th. Wall Street Zen raised shares of QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Lake Street Capital reissued a “buy” rating and issued 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 started coverage on shares of QuickLogic in a report on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $22.00.

QuickLogic Trading Down 0.2%

The company has a 50 day simple moving average of $19.19 and a two-hundred day simple moving average of $12.82. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68. The firm has a market cap of $236.99 million, a PE ratio of -14.61 and a beta of 1.17.

QuickLogic (NASDAQ:QUIK) last announced its quarterly earnings data on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.02). The firm had revenue of $5.05 million during the quarter, compared to analysts’ expectations of $5.51 million. QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%. Analysts expect that QuickLogic Corporation will post -0.23 EPS for the current fiscal year.

Insider Transactions at QuickLogic

In other QuickLogic news, Director Gary H. Tauss sold 2,195 shares of the company’s stock in a transaction on Monday, May 18th. The shares were sold at an average price of $19.20, for a total value of $42,144.00. Following the sale, the director directly owned 15,908 shares of the company’s stock, valued at approximately $305,433.60. This represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joyce Kim sold 5,500 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total value of $110,000.00. Following the sale, the director directly owned 2,140 shares in the company, valued at $42,800. This represents a 71.99% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 49,175 shares of company stock worth $1,000,410 over the last 90 days. 3.20% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in shares of QuickLogic by 382.8% during the 1st quarter. Bank of America Corp DE now owns 28,771 shares of the semiconductor company’s stock worth $270,000 after purchasing an additional 22,812 shares during the period. Royal Bank of Canada lifted its stake in shares of QuickLogic by 14,694.5% in the 1st quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock valued at $3,266,000 after purchasing an additional 345,762 shares during the period. OMERS ADMINISTRATION Corp purchased a new stake in QuickLogic during the first quarter worth $151,000. Themes Management Co LLC purchased a new stake in QuickLogic during the first quarter worth $1,309,000. Finally, Sei Investments Co. acquired a new stake in QuickLogic during the first quarter valued at $987,000. 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.