QuickLogic (NASDAQ:QUIK) Stock Passes Above 200 Day Moving Average – Should You Sell?

QuickLogic Co. (NASDAQ:QUIK)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $8.83 and traded as high as $9.32. QuickLogic shares last traded at $9.24, with a volume of 175,523 shares traded.

Wall Street Analyst Weigh In

Several analysts recently commented on QUIK shares. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a report on Wednesday, December 11th. Craig Hallum decreased their price objective 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. Finally, Northland Securities assumed coverage on QuickLogic in a research note on Tuesday, December 17th. They set an “outperform” rating and a $11.60 target price on the stock. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $11.53.

QuickLogic Stock Up 10.2 %

The company has a market cap of $149.72 million, a PE ratio of -101.80 and a beta of 1.59. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The company’s fifty day moving average is $7.92 and its 200-day moving average is $8.84.

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

Insider Activity at QuickLogic

In related news, CFO Elias Nader sold 8,711 shares of the business’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 $64,374.29. Following the completion of the transaction, the chief financial officer now directly owns 60,955 shares in the company, valued at approximately $450,457.45. The trade was a 12.50 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $6.95, for a total transaction of $69,500.00. Following the sale, the vice president now owns 108,004 shares in the company, valued at approximately $750,627.80. The trade was a 8.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,117 shares of company stock worth $381,460. 2.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On QuickLogic

Institutional investors have recently added to or reduced their stakes in the stock. Quest Partners LLC increased its holdings in shares of QuickLogic by 5,067.5% in the third quarter. Quest Partners LLC now owns 10,955 shares of the semiconductor company’s stock worth $84,000 after purchasing an additional 10,743 shares during the last quarter. Acuitas Investments LLC raised its holdings in shares of QuickLogic by 54.0% during the 2nd quarter. Acuitas Investments LLC now owns 9,700 shares of the semiconductor company’s stock worth $101,000 after acquiring an additional 3,400 shares in the last quarter. Cutter & CO Brokerage Inc. purchased a new position in shares of QuickLogic in the third quarter valued at $106,000. XTX Topco Ltd bought a new position in QuickLogic during the second quarter valued at $127,000. Finally, Barclays PLC grew its stake in shares of QuickLogic by 34.8% in the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock worth $150,000 after buying an additional 5,079 shares in the last quarter. 31.54% of the stock is owned by hedge funds and other institutional investors.

QuickLogic Company Profile

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.