Shares of QuickLogic Corporation (NASDAQ:QUIK – Get Free Report) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $9.70 and traded as high as $22.47. QuickLogic shares last traded at $21.56, with a volume of 502,568 shares traded.
Analyst Upgrades and Downgrades
Several equities research analysts have issued reports on the company. Wall Street Zen raised QuickLogic from a “sell” rating to a “hold” rating in a research note on Saturday, May 16th. Needham & Company LLC assumed coverage on QuickLogic in a research note on Wednesday, May 20th. They set a “buy” rating and a $22.00 target price for the company. Lake Street Capital reissued a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $22.00.
Get Our Latest Research Report on QUIK
QuickLogic Stock Performance
QuickLogic (NASDAQ:QUIK – Get Free Report) last released its quarterly earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02). QuickLogic had a negative return on equity of 48.97% and a negative net margin of 102.41%.The firm had revenue of $5.05 million for the quarter, compared to analysts’ expectations of $5.51 million. Research analysts expect that QuickLogic Corporation will post -0.2 earnings per share for the current year.
Insider Transactions at QuickLogic
In related news, Director Gary H. Tauss sold 2,195 shares of QuickLogic stock in a transaction on Monday, May 18th. The stock was sold at an average price of $19.20, for a total value of $42,144.00. Following the completion of the transaction, the director directly owned 15,908 shares in the company, valued at approximately $305,433.60. This trade represents a 12.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Brian C. Faith sold 41,480 shares of QuickLogic stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total value of $848,266.00. Following the completion of the transaction, the chief executive officer owned 228,412 shares of the company’s stock, valued at approximately $4,671,025.40. This trade represents a 15.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 63,845 shares of company stock valued at $1,154,347. Corporate insiders own 3.20% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of QUIK. Royal Bank of Canada boosted its holdings in QuickLogic by 14,694.5% in the first quarter. Royal Bank of Canada now owns 348,115 shares of the semiconductor company’s stock valued at $3,266,000 after purchasing an additional 345,762 shares during the period. Cadent Capital Advisors LLC purchased a new position in QuickLogic in the fourth quarter valued at $1,036,000. Themes Management Co LLC purchased a new position in QuickLogic in the first quarter valued at $1,309,000. Sei Investments Co. purchased a new position in QuickLogic in the first quarter valued at $987,000. Finally, Perkins Capital Management Inc. boosted its holdings in QuickLogic by 34.5% in the fourth quarter. Perkins Capital Management Inc. now owns 275,706 shares of the semiconductor company’s stock valued at $1,657,000 after purchasing an additional 70,750 shares during the period. 31.54% of the stock is currently owned by hedge funds and other institutional investors.
About QuickLogic
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.
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