QuickLogic (NASDAQ:QUIK) Share Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• QuickLogic Corporation's stock has recently surpassed its 200-day moving average of $5.69, trading as high as $6.14 before closing at $6.05.
• Wall Street analysts have downgraded QuickLogic from a "hold" to a "sell" rating, despite one analyst still rating it a Strong Buy, leading to a consensus price target of $10.87.
• Institutional ownership stands at 31.54% of QuickLogic's stock, with major hedge funds significantly increasing their stakes during recent trading periods.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $5.69 and traded as high as $6.14. QuickLogic shares last traded at $6.05, with a volume of 257,999 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen lowered QuickLogic from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus target price of $10.87.

QuickLogic Trading Down 4.0%

The company has a market cap of $95.46 million, a PE ratio of -12.36 and a beta of 0.74. The business has a 50 day simple moving average of $5.80 and a two-hundred day simple moving average of $5.69. The company has a current ratio of 1.27, a quick ratio of 1.23 and a debt-to-equity ratio of 0.03.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC lifted its holdings in shares of QuickLogic by 5,920.0% during the 1st quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock worth $32,000 after acquiring an additional 6,216 shares during the period. Deutsche Bank AG raised its stake in QuickLogic by 94.2% during the first quarter. Deutsche Bank AG now owns 138,372 shares of the semiconductor company's stock worth $707,000 after purchasing an additional 67,110 shares during the period. Bank of America Corp DE raised its stake in QuickLogic by 40.5% during the fourth quarter. Bank of America Corp DE now owns 13,091 shares of the semiconductor company's stock worth $148,000 after purchasing an additional 3,773 shares during the period. Vident Advisory LLC purchased a new position in QuickLogic during the first quarter worth approximately $109,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in QuickLogic by 111.2% during the first quarter. Skandinaviska Enskilda Banken AB publ now owns 41,948 shares of the semiconductor company's stock worth $214,000 after purchasing an additional 22,083 shares during the period. 31.54% of the stock is currently 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.