QuickLogic (NASDAQ:QUIK) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

QuickLogic (NASDAQ:QUIK) issued its quarterly earnings data on Monday. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), RTT News reports. The business had revenue of $4.27 million during the quarter, compared to the consensus estimate of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.35%. During the same quarter last year, the business earned $0.08 EPS.

QuickLogic Stock Up 6.8 %

Shares of QuickLogic stock opened at $7.89 on Thursday. The firm has a market cap of $114.17 million, a price-to-earnings ratio of -77.20 and a beta of 1.56. The stock’s 50-day moving average is $7.85 and its 200 day moving average is $9.91. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.21 and a quick ratio of 1.14. QuickLogic has a one year low of $7.01 and a one year high of $20.75.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on QUIK shares. StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Craig Hallum reduced their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Oppenheimer decreased their target price on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday, August 14th.

Insider Buying and Selling at QuickLogic

In other news, VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $8.44, for a total transaction of $84,400.00. Following the completion of the sale, the vice president now owns 104,934 shares of the company’s stock, valued at $885,642.96. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction of $84,400.00. Following the transaction, the vice president now owns 104,934 shares of the company’s stock, valued at $885,642.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian C. Faith sold 27,866 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $8.83, for a total value of $246,056.78. Following the sale, the chief executive officer now owns 215,849 shares of the company’s stock, valued at $1,905,946.67. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,324 shares of company stock valued at $363,535. 2.49% of the stock is currently owned by company insiders.

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.