QuickLogic (NASDAQ:QUIK) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

QuickLogic (NASDAQ:QUIK) posted its quarterly earnings data on Tuesday. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06), RTT News reports. The firm had revenue of $4.13 million for the quarter, compared to the consensus estimate of $4.50 million. QuickLogic had a return on equity of 6.57% and a net margin of 4.65%. During the same quarter in the previous year, the business posted ($0.17) earnings per share.

QuickLogic Stock Down 12.5 %

Shares of QUIK traded down $1.18 during trading hours on Wednesday, reaching $8.24. The stock had a trading volume of 730,237 shares, compared to its average volume of 263,207. The company has a market capitalization of $118.82 million, a price-to-earnings ratio of 132.50 and a beta of 1.63. The firm has a 50-day simple moving average of $10.73 and a 200 day simple moving average of $12.75. The company has a current ratio of 1.24, a quick ratio of 1.17 and a debt-to-equity ratio of 0.02. QuickLogic has a 12 month low of $7.25 and a 12 month high of $20.75.

Insiders Place Their Bets

In other news, VP Timothy Saxe sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $11.76, for a total value of $117,600.00. Following the transaction, the vice president now owns 114,934 shares in the company, valued at $1,351,623.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.49% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on QUIK. Oppenheimer decreased their price objective on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a research report on Wednesday. Craig Hallum cut their price target on shares of QuickLogic from $16.00 to $12.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday.

QuickLogic Company Profile

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.