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

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 two hundred day moving average during trading on Friday . The stock has a two hundred 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.

Analyst Ratings Changes

QUIK has been the subject of several recent research reports. Oppenheimer cut their price objective on QuickLogic from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Wall Street Zen lowered QuickLogic from a "hold" rating to a "sell" rating in a report on Saturday, August 16th. One investment 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 stock presently has a consensus rating of "Buy" and an average price target of $10.87.

QuickLogic Trading Down 0.5%

The company has a fifty day simple moving average of $6.11 and a two-hundred day simple moving average of $5.96. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.27 and a quick ratio of 1.23. The company has a market capitalization of $90.69 million, a P/E ratio of -11.74 and a beta of 0.63.

Hedge Funds Weigh In On QuickLogic

Institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of QuickLogic by 5,920.0% in the first quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock worth $32,000 after purchasing an additional 6,216 shares during the period. Wells Fargo & Company MN increased its stake in shares of QuickLogic by 49.4% in the fourth quarter. Wells Fargo & Company MN now owns 6,645 shares of the semiconductor company's stock worth $75,000 after purchasing an additional 2,197 shares during the period. Tower Research Capital LLC TRC increased its stake in shares of QuickLogic by 246.5% in the second 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 during the period. Vanguard Personalized Indexing Management LLC bought a new position in shares of QuickLogic in the second quarter worth about $66,000. Finally, XTX Topco Ltd bought a new position in shares of QuickLogic in the fourth quarter worth about $141,000. 31.54% of the stock is currently owned by 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.