QuickLogic (NASDAQ:QUIK) Shares Cross Above Two Hundred Day Moving Average - Here's Why

Key Points

• QuickLogic Corporation shares have crossed above their 200-day moving average, indicating potential positive momentum, with a current trading price of $5.62.
• Analyst ratings have varied, with Oppenheimer reducing its price target from $13 to $11 while Wall Street Zen downgraded QuickLogic from "hold" to "sell," resulting in a consensus rating of "Moderate Buy."
• Institutional investors have shown significant interest, with GAMMA Investing LLC increasing its stake by 5,920% and several other major investors boosting their holdings in recent quarters.

QuickLogic Corporation (NASDAQ:QUIK - Get 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 $6.03 and traded as high as $6.64. QuickLogic shares last traded at $5.62, with a volume of 579,741 shares traded.

Wall Street Analyst Weigh In

Several research firms have commented on QUIK. Oppenheimer cut their price target on QuickLogic from $13.00 to $11.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 14th. Wall Street Zen cut shares of QuickLogic from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $10.87.

QuickLogic Stock Down 1.3%

The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03. The company has a market capitalization of $89.95 million, a price-to-earnings ratio of -11.65 and a beta of 0.63. The firm's 50 day simple moving average is $6.12 and its 200-day simple moving average is $5.97.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its holdings in QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company's stock valued at $42,000 after purchasing an additional 4,902 shares in the last quarter. Raymond James Financial Inc. raised its stake in shares of QuickLogic by 2.8% during the 2nd 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 in the last quarter. Qube Research & Technologies Ltd lifted its holdings in shares of QuickLogic by 40.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company's stock valued at $613,000 after buying an additional 28,751 shares during the period. XTX Topco Ltd purchased a new stake in shares of QuickLogic in the second quarter valued at approximately $171,000. Finally, Prospera Financial Services Inc acquired a new position in QuickLogic during the second quarter worth $96,000. 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.