QuickLogic (NASDAQ:QUIK) Shares Pass Above 200 Day Moving Average - Time to Sell?

Key Points

• QuickLogic Corporation's shares have recently crossed above their 200-day moving average, trading at $7.20, indicating potential momentum in the stock price.
• Majority of analysts have rated QuickLogic with a consensus of "Moderate Buy," while some have recently downgraded ratings to "Sell."
• Insider selling activity has been noted, with the VP and CEO selling shares at an average price of $5.80, leading to a decrease in their ownership percentages.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.75 and traded as high as $7.47. QuickLogic shares last traded at $7.20, with a volume of 276,251 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of QuickLogic in a research report on Wednesday, October 8th. Wall Street Zen cut shares of QuickLogic from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $10.87.

QuickLogic Price Performance

The company has a market cap of $118.30 million, a P/E ratio of -15.32 and a beta of 0.76. The firm's 50-day moving average is $5.84 and its two-hundred day moving average is $5.75. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.27 and a quick ratio of 1.23.

Insider Activity

In other QuickLogic news, VP Timothy Saxe sold 9,155 shares of the company's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $5.80, for a total transaction of $53,099.00. Following the sale, the vice president directly owned 125,916 shares in the company, valued at $730,312.80. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Brian C. Faith sold 14,956 shares of the firm's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $5.80, for a total value of $86,744.80. Following the completion of the sale, the chief executive officer directly owned 228,412 shares of the company's stock, valued at $1,324,789.60. The trade was a 6.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,836 shares of company stock worth $189,133. 1.50% of the stock is currently owned by corporate insiders.

Institutional Trading of QuickLogic

Institutional investors have recently bought and sold shares of the stock. 1492 Capital Management LLC purchased a new stake in QuickLogic in the 1st quarter worth about $784,000. Deutsche Bank AG raised its holdings in shares of QuickLogic by 94.2% in the first quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company's stock worth $707,000 after buying an additional 67,110 shares during the period. Qube Research & Technologies Ltd raised its holdings in shares of QuickLogic by 40.6% in the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company's stock worth $613,000 after buying an additional 28,751 shares during the period. XTX Topco Ltd purchased a new position in QuickLogic during the 2nd quarter valued at $171,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in QuickLogic during the 2nd quarter valued at $149,000. 31.54% of the stock is currently owned by institutional investors.

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.

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