QuickLogic (NASDAQ:QUIK) Stock Crosses Above 200-Day Moving Average – Should You Sell?

Shares of QuickLogic Co. (NASDAQ:QUIK) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $8.74 and traded as high as $9.20. QuickLogic shares last traded at $9.14, with a volume of 202,971 shares traded.

Analyst Upgrades and Downgrades

QUIK has been the topic of a number of research reports. Craig Hallum reduced their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Northland Securities began coverage on QuickLogic in a report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 price objective for the company. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research note on Tuesday, December 17th. Finally, StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $11.53.

QuickLogic Stock Down 1.4 %

The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.05 and a current ratio of 1.12. The company has a market capitalization of $137.69 million, a price-to-earnings ratio of -93.60 and a beta of 1.42. The business’s 50 day moving average is $8.66 and its 200 day moving average is $8.74.

QuickLogic (NASDAQ:QUIK) last released its earnings results on Monday, November 11th. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01). The firm had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.30%. During the same period in the previous year, the company earned $0.08 earnings per share. Sell-side analysts anticipate that QuickLogic Co. will post -0.29 earnings per share for the current year.

Insider Buying and Selling

In other QuickLogic news, VP Timothy Saxe sold 10,886 shares of the company’s stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $80,447.54. Following the sale, the vice president now directly owns 117,609 shares of the company’s stock, valued at approximately $869,130.51. This represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the transaction, the chief financial officer now owns 60,955 shares of the company’s stock, valued at $450,457.45. The trade was a 12.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 52,117 shares of company stock valued at $381,460 over the last quarter. 1.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in shares of QuickLogic by 15.6% in the 3rd quarter. State Street Corp now owns 198,500 shares of the semiconductor company’s stock valued at $1,522,000 after purchasing an additional 26,774 shares during the period. Marshall Wace LLP raised its position in shares of QuickLogic by 118.4% in the second quarter. Marshall Wace LLP now owns 73,549 shares of the semiconductor company’s stock worth $764,000 after acquiring an additional 39,878 shares during the period. Squarepoint Ops LLC boosted its stake in shares of QuickLogic by 194.3% during the 2nd quarter. Squarepoint Ops LLC now owns 55,152 shares of the semiconductor company’s stock worth $573,000 after acquiring an additional 36,409 shares in the last quarter. Barclays PLC grew its position in shares of QuickLogic by 34.8% during the 3rd quarter. Barclays PLC now owns 19,676 shares of the semiconductor company’s stock valued at $150,000 after acquiring an additional 5,079 shares during the period. Finally, American Century Companies Inc. increased its stake in shares of QuickLogic by 24.8% in the 2nd quarter. American Century Companies Inc. now owns 18,841 shares of the semiconductor company’s stock valued at $196,000 after purchasing an additional 3,750 shares in the last quarter. 31.54% of the stock is owned by institutional investors and hedge funds.

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.