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

by · The Markets Daily

QuickLogic Corporation (NASDAQ:QUIKGet Free Report)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.31 and traded as high as $23.02. QuickLogic shares last traded at $20.00, with a volume of 801,157 shares trading hands.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Needham & Company LLC began coverage on QuickLogic in a research note on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price objective on the stock. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a report on Friday, March 27th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a report on Wednesday, May 13th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, QuickLogic presently has an average rating of “Hold” and an average price target of $22.00.

Check Out Our Latest Stock Report on QuickLogic

QuickLogic Stock Performance

The business has a fifty day simple moving average of $15.79 and a 200-day simple moving average of $10.31. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The firm has a market cap of $364.60 million, a P/E ratio of -22.47 and a beta of 1.18.

QuickLogic (NASDAQ:QUIKGet Free Report) last released its earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates 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, sell-side analysts predict that QuickLogic Corporation will post -0.23 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Brian C. Faith sold 41,480 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $20.45, for a total transaction of $848,266.00. Following the sale, the chief executive officer directly owned 228,412 shares of the company’s stock, valued at $4,671,025.40. This trade represents a 15.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael J. Farese sold 4,800 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $11.71, for a total value of $56,208.00. Following the sale, the director directly owned 30,540 shares in the company, valued at $357,623.40. This trade represents a 13.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 61,517 shares of company stock valued at $1,132,441. 3.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in QuickLogic by 4.6% in the third quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock valued at $3,975,000 after acquiring an additional 28,587 shares during the period. Royal Bank of Canada raised its stake in shares of QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock worth $3,266,000 after buying an additional 345,762 shares during the period. Perkins Capital Management Inc. raised its stake in shares of QuickLogic by 11.2% in the first quarter. Perkins Capital Management Inc. now owns 306,706 shares of the semiconductor company’s stock worth $2,877,000 after buying an additional 31,000 shares during the period. Raymond James Financial Inc. raised its stake in shares of QuickLogic by 2.8% in the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after buying an additional 5,721 shares during the period. Finally, Cadent Capital Advisors LLC bought a new position in shares of QuickLogic in the fourth quarter worth about $1,036,000. Institutional investors own 31.54% of the company’s stock.

QuickLogic Company Profile

(Get Free Report)

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.

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