QuickLogic (NASDAQ:QUIK) Share Price Crosses Above Two Hundred Day Moving Average of $13.06

Shares of QuickLogic Co. (NASDAQ:QUIK) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $13.06 and traded as high as $14.22. QuickLogic shares last traded at $13.92, with a volume of 210,882 shares changing hands.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on QUIK. StockNews.com upgraded QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, February 3rd. Oppenheimer reiterated an “outperform” rating and set a $16.00 price objective (up previously from $12.00) on shares of QuickLogic in a research report on Wednesday, February 28th. Finally, TheStreet upgraded QuickLogic from a “d” rating to a “c” rating in a research report on Thursday, February 29th.

QuickLogic Trading Up 3.6 %

The business has a 50 day simple moving average of $15.02 and a 200-day simple moving average of $13.06. The company has a current ratio of 1.17, a quick ratio of 1.10 and a debt-to-equity ratio of 0.03. The stock has a market capitalization of $200.17 million, a price-to-earnings ratio of -347.91 and a beta of 1.61.

QuickLogic (NASDAQ:QUIK) last issued its quarterly earnings results on Tuesday, February 27th. The semiconductor company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.06. QuickLogic had a negative return on equity of 1.85% and a negative net margin of 1.24%. The firm had revenue of $7.48 million for the quarter, compared to analyst estimates of $7.40 million. On average, equities analysts predict that QuickLogic Co. will post 0.17 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Brian C. Faith sold 2,810 shares of QuickLogic stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.54, for a total value of $43,667.40. Following the transaction, the chief executive officer now directly owns 192,393 shares of the company’s stock, valued at approximately $2,989,787.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Brian C. Faith sold 2,810 shares of QuickLogic stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $15.54, for a total value of $43,667.40. Following the transaction, the chief executive officer now directly owns 192,393 shares of the company’s stock, valued at approximately $2,989,787.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Elias Nader sold 2,474 shares of QuickLogic stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $15.54, for a total value of $38,445.96. Following the completion of the transaction, the chief financial officer now directly owns 44,207 shares in the company, valued at $686,976.78. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 21,702 shares of company stock valued at $350,482. Insiders own 2.49% of the company’s stock.

Hedge Funds Weigh In On QuickLogic

Several hedge funds and other institutional investors have recently bought and sold shares of QUIK. Acadian Asset Management LLC acquired a new position in QuickLogic during the 3rd quarter worth approximately $26,000. Quadrature Capital Ltd acquired a new position in QuickLogic during the 3rd quarter worth approximately $111,000. Gladstone Institutional Advisory LLC lifted its position in QuickLogic by 13.8% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 12,943 shares of the semiconductor company’s stock worth $179,000 after acquiring an additional 1,565 shares in the last quarter. Thompson Davis & CO. Inc. acquired a new position in QuickLogic during the 1st quarter worth approximately $202,000. Finally, Victory Capital Management Inc. acquired a new position in QuickLogic during the 4th quarter worth approximately $203,000. 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.