QuickLogic (NASDAQ:QUIK) Stock Passes Above 200 Day Moving Average – What’s Next?

QuickLogic Corporation (NASDAQ:QUIK)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.06 and traded as high as $9.92. QuickLogic shares last traded at $9.62, with a volume of 120,389 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on QUIK. Lake Street Capital assumed coverage on QuickLogic in a report on Monday, February 9th. They issued a “buy” rating and a $10.00 target price on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a report on Monday, December 29th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, QuickLogic has an average rating of “Hold” and a consensus price target of $10.50.

QuickLogic Price Performance

The stock’s fifty day moving average price is $8.25 and its 200-day moving average price is $7.06. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.18 and a quick ratio of 1.14. The firm has a market cap of $164.41 million, a price-to-earnings ratio of -10.69 and a beta of 0.60.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Tuesday, March 3rd. The semiconductor company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of ($0.11) by ($0.06). QuickLogic had a negative return on equity of 45.83% and a negative net margin of 107.70%.The firm had revenue of $3.73 million during the quarter, compared to analyst estimates of $3.50 million. Equities research analysts predict that QuickLogic Corporation will post -0.29 EPS for the current fiscal year.

Institutional Trading of QuickLogic

Several hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of QuickLogic by 4.6% during the third quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock valued at $3,975,000 after buying an additional 28,587 shares in the last quarter. Perkins Capital Management Inc. lifted its stake in QuickLogic by 34.5% in the 4th quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock worth $1,657,000 after acquiring an additional 70,750 shares in the last quarter. Raymond James Financial Inc. boosted its position in QuickLogic by 2.8% during the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 5,721 shares during the period. Cadent Capital Advisors LLC acquired a new stake in QuickLogic during the 4th quarter worth about $1,036,000. Finally, Geode Capital Management LLC grew its stake in QuickLogic by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 169,902 shares of the semiconductor company’s stock valued at $1,021,000 after acquiring an additional 11,543 shares in the last quarter. Institutional investors and hedge funds own 31.54% of the company’s stock.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.