QuickLogic Corporation (NASDAQ:QUIK – Get Free Report) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $10.31 and traded as high as $23.02. QuickLogic shares last traded at $20.00, with a volume of 801,157 shares traded.
Analyst Upgrades and Downgrades
QUIK has been the topic of several recent analyst reports. Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Lake Street Capital reiterated a “buy” rating and set a $22.00 target price (up from $11.00) on shares of QuickLogic in a research report on Wednesday, May 13th. Needham & Company LLC initiated coverage on QuickLogic in a research report on Wednesday, May 20th. They set a “buy” rating and a $22.00 target price on the stock. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, QuickLogic has an average rating of “Hold” and a consensus price target of $22.00.
Read Our Latest Stock Report on QUIK
QuickLogic Stock Down 15.8%
QuickLogic (NASDAQ:QUIK – Get Free Report) last issued its earnings results on Tuesday, May 12th. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 -0.23 EPS for the current year.
Insider Transactions at QuickLogic
In related news, Director Joyce Kim sold 5,500 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total transaction of $110,000.00. Following the sale, the director directly owned 2,140 shares in the company, valued at approximately $42,800. This trade represents a 71.99% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Brian C. Faith sold 41,480 shares of the firm’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total value of $848,266.00. Following the sale, the chief executive officer owned 228,412 shares in the company, valued at approximately $4,671,025.40. The trade was a 15.37% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,517 shares of company stock worth $1,132,441 over the last 90 days. Company insiders own 3.20% of the company’s stock.
Institutional Investors Weigh In On QuickLogic
Hedge funds have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its holdings in shares of QuickLogic by 246.5% during 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. Stratos Wealth Advisors LLC purchased a new stake in shares of QuickLogic during the 3rd quarter valued at about $71,000. Cetera Investment Advisers acquired a new stake in QuickLogic during the 1st quarter valued at approximately $111,000. SEB Asset Management AB acquired a new stake in QuickLogic during the 1st quarter valued at approximately $129,000. Finally, Squarepoint Ops LLC acquired a new stake in QuickLogic during the 4th quarter valued at approximately $84,000. 31.54% of the stock is currently owned by hedge funds and other institutional investors.
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.
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