QuickLogic (NASDAQ:QUIK) Stock Passes Above Two Hundred Day Moving Average – Time to Sell?

QuickLogic Corporation (NASDAQ:QUIK) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $6.07 and traded as high as $6.31. QuickLogic shares last traded at $6.30, with a volume of 81,375 shares traded.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Weiss Ratings reiterated a “sell (e+)” rating on shares of QuickLogic in a research report on Monday. Northland Securities cut QuickLogic from an “outperform” rating to a “market perform” rating in a report on Wednesday, November 12th. Northland Capmk lowered shares of QuickLogic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, November 12th. Finally, Wall Street Zen downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $11.30.

QuickLogic Trading Up 5.9%

The company has a market cap of $107.67 million, a price-to-earnings ratio of -11.05 and a beta of 0.85. The firm has a 50 day moving average price of $6.51 and a two-hundred day moving average price of $6.07. The company has a quick ratio of 1.14, a current ratio of 1.18 and a debt-to-equity ratio of 0.02.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Wednesday, November 12th. The semiconductor company reported ($0.19) EPS for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.02. QuickLogic had a negative return on equity of 33.71% and a negative net margin of 58.26%.The company had revenue of $2.03 million for the quarter, compared to analyst estimates of $2.05 million. As a group, equities analysts forecast that QuickLogic Corporation will post -0.29 earnings per share for the current year.

Insider Activity

In other QuickLogic news, VP Timothy Saxe sold 9,155 shares of the company’s stock in a transaction on Friday, September 19th. The shares were sold at an average price of $5.80, for a total transaction of $53,099.00. Following the sale, the vice president owned 125,916 shares of the company’s stock, valued at approximately $730,312.80. This represents a 6.78% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Brian C. Faith sold 14,956 shares of the stock in a transaction dated Friday, September 19th. The stock was sold at an average price of $5.80, for a total value of $86,744.80. Following the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 31,436 shares of company stock valued at $182,329. 1.50% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in QUIK. Tower Research Capital LLC TRC raised its stake in QuickLogic by 246.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after buying an additional 4,902 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of QuickLogic during the second quarter valued at approximately $66,000. Stratos Wealth Advisors LLC bought a new stake in shares of QuickLogic during the third quarter valued at approximately $71,000. Jane Street Group LLC acquired a new position in shares of QuickLogic during the first quarter worth approximately $87,000. Finally, Nuveen LLC acquired a new position in shares of QuickLogic during the first quarter worth approximately $95,000. 31.54% of the stock is 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.