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

QuickLogic Co. (NASDAQ:QUIK)’s stock price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred 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 trading hands.

Analysts Set New Price Targets

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

QuickLogic Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The firm has a market capitalization of $137.69 million, a price-to-earnings ratio of -93.60 and a beta of 1.42. The business has a 50 day simple moving average of $8.66 and a 200-day simple moving average of $8.74.

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

Insider Activity at QuickLogic

In other QuickLogic news, CEO Brian C. Faith sold 21,402 shares of the company’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $158,160.78. Following the completion of the sale, the chief executive officer now directly owns 193,584 shares of the company’s stock, valued at $1,430,585.76. This represents a 9.96 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $6.95, for a total value of $69,500.00. Following the completion of the sale, the vice president now directly owns 108,004 shares in the company, valued at $750,627.80. This represents a 8.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,117 shares of company stock valued at $381,460 over the last quarter. 1.70% of the stock is owned by insiders.

Institutional Trading of QuickLogic

Hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP raised its stake in shares of QuickLogic by 118.4% during the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock valued at $764,000 after purchasing an additional 39,878 shares during the period. Squarepoint Ops LLC grew 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 worth $573,000 after buying an additional 36,409 shares during the last quarter. State Street Corp lifted its holdings 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 valued at $1,522,000 after purchasing an additional 26,774 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of QuickLogic during the 2nd quarter valued at $172,000. Finally, Cutter & CO Brokerage Inc. bought a new stake in shares of QuickLogic in the 3rd quarter valued at approximately $106,000. 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.