QuickLogic (NASDAQ:QUIK) Share Price Passes Above 200-Day Moving Average - Here's Why

Key Points

• QuickLogic shares moved above their 200-day moving average, trading as high as $13.63 versus the average of $13.35, with the latest price at $13.40.
• Analyst sentiment is mixed: two analysts rate the stock Buy, one Hold and one Sell, resulting in a consensus Hold rating and a $22.00 target price.
• The company missed quarterly expectations, reporting an adjusted loss of $0.08 per share and revenue of $5.05 million; insiders have also sold approximately $1.0 million of stock over the past three months.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $13.35 and traded as high as $13.63. QuickLogic shares last traded at $13.40, with a volume of 152,115 shares trading hands.

Wall Street Analysts Forecast Growth

QUIK has been the topic of a number of analyst reports. 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 target on the stock. Lake Street Capital reiterated a "buy" rating and issued a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Wall Street Zen raised QuickLogic from a "sell" rating to a "hold" rating in a report on Saturday, May 16th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of QuickLogic in a research report on Wednesday, June 24th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.00.

QuickLogic Stock Performance

The firm has a fifty day moving average of $17.68 and a 200-day moving average of $13.35. The stock has a market capitalization of $244.28 million, a price-to-earnings ratio of -15.06 and a beta of 1.24. The company has a quick ratio of 1.53, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

QuickLogic (NASDAQ:QUIK - Get Free Report) last posted 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). The firm had revenue of $5.05 million for 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%. As a group, sell-side analysts anticipate that QuickLogic Corporation will post -0.23 EPS for the current year.

Insider Buying and Selling

In related news, Director Joyce Kim sold 5,500 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were 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. The trade was a 71.99% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Brian C. Faith sold 41,480 shares of the firm's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total transaction of $848,266.00. Following the transaction, the chief executive officer 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. 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 in the last three months. Corporate insiders own 3.20% of the company's stock.

Institutional Trading of QuickLogic

Several large investors have recently modified their holdings of QUIK. Tower Research Capital LLC TRC increased its stake in shares of QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock worth $42,000 after purchasing an additional 4,902 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in QuickLogic in the 4th quarter valued at approximately $84,000. Jane Street Group LLC purchased a new stake in QuickLogic in the 1st quarter valued at approximately $87,000. Dimensional Fund Advisors LP acquired a new stake in QuickLogic during the 4th quarter valued at $102,000. Finally, Stratos Wealth Advisors LLC increased its position in QuickLogic by 55.5% during the fourth quarter. Stratos Wealth Advisors LLC now owns 18,235 shares of the semiconductor company's stock worth $110,000 after buying an additional 6,510 shares in the last quarter. 31.54% of the stock is currently 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.

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