QuickLogic (NASDAQ:QUIK) Stock Price Crosses Above Two Hundred Day Moving Average - Here's Why

Key Points

• QuickLogic shares crossed above their 200-day moving average, trading between $5.69 to $6.26, with the last price at $6.06.
• Analysts have mixed views on QuickLogic, with a consensus rating of "Moderate Buy" and a target price of $10.87, despite some recent downgrades.
• Insider selling activity was noted as CEO Brian C. Faith and VP Timothy Saxe both sold shares, decreasing their ownership positions by 6.15% and 6.78%, respectively.

Shares of QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.69 and traded as high as $6.26. QuickLogic shares last traded at $6.06, with a volume of 188,595 shares.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Weiss Ratings restated a "sell (d)" rating on shares of QuickLogic in a research report on Saturday, September 27th. 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, three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $10.87.

QuickLogic Stock Performance

The stock has a market cap of $99.57 million, a price-to-earnings ratio of -12.89 and a beta of 0.76. 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 firm has a fifty day moving average of $5.75 and a 200 day moving average of $5.69.

Insider Transactions at QuickLogic

In other news, CEO Brian C. Faith sold 14,956 shares of the business's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $86,744.80. Following the transaction, the chief executive officer owned 228,412 shares of the company's stock, valued at approximately $1,324,789.60. The trade was a 6.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Timothy Saxe sold 9,155 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $53,099.00. Following the completion of the sale, the vice president directly owned 125,916 shares of the company's stock, valued at $730,312.80. This represents a 6.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,836 shares of company stock worth $189,133 in the last quarter. Company insiders own 1.50% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QUIK. GAMMA Investing LLC grew its position in 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 acquiring an additional 6,216 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of 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 during the last quarter. Vanguard Personalized Indexing Management LLC purchased a new position in shares of QuickLogic during the 2nd quarter worth $66,000. Jane Street Group LLC acquired a new stake in shares of QuickLogic during the 1st quarter worth about $87,000. Finally, Nuveen LLC acquired a new stake in shares of QuickLogic during the 1st quarter worth about $95,000. 31.54% of the stock is currently owned by institutional investors and hedge funds.

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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