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

Key Points

• QuickLogic Corporation shares have crossed above their 200-day moving average, trading at $7.02, up from a 200-day average of $5.83.
• Analyst ratings indicate a mixed outlook, with one analyst giving a Strong Buy rating, while others have a consensus average rating of Moderate Buy and a target price of $10.87.
• Insider trading was noted, with significant share sales by VP Timothy Saxe and CFO Elias Nader, showcasing a decrease in their positions by over 6% and 8%, respectively.

QuickLogic Corporation (NASDAQ:QUIK - Get Free Report) shares crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $5.83 and traded as high as $7.27. QuickLogic shares last traded at $7.02, with a volume of 261,051 shares traded.

Analyst Ratings Changes

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

QuickLogic Stock Performance

The company has a market cap of $115.34 million, a price-to-earnings ratio of -14.94 and a beta of 0.76. 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 stock's fifty day simple moving average is $5.93 and its 200 day simple moving average is $5.83.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, VP Timothy Saxe sold 9,155 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total value of $53,099.00. Following the completion of the sale, the vice president owned 125,916 shares in the company, valued at approximately $730,312.80. This represents a 6.78% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elias Nader sold 7,325 shares of the stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $42,485.00. Following the completion of the sale, the chief financial officer owned 82,006 shares of the company's stock, valued at approximately $475,634.80. The trade was a 8.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,836 shares of company stock worth $189,133. Insiders own 1.50% of the company's stock.

Institutional Trading of QuickLogic

Several hedge funds have recently made changes to their positions in QUIK. GAMMA Investing LLC grew its stake in shares of QuickLogic by 5,920.0% in the 1st quarter. GAMMA Investing LLC now owns 6,321 shares of the semiconductor company's stock valued at $32,000 after buying an additional 6,216 shares during the period. Tower Research Capital LLC TRC grew 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 buying an additional 4,902 shares during the period. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of QuickLogic in the 2nd quarter valued at approximately $66,000. Jane Street Group LLC purchased a new stake in shares of QuickLogic in the 1st quarter valued at approximately $87,000. Finally, Nuveen LLC purchased a new stake in shares of QuickLogic in the 1st quarter valued at approximately $95,000. Hedge funds and other institutional investors own 31.54% of the company's stock.

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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