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

QuickLogic (NASDAQ:QUIK) released its quarterly earnings results on Monday. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), RTT News reports. The company had revenue of $4.27 million during the quarter, compared to analyst estimates of $4.20 million. QuickLogic had a return on equity of 9.56% and a net margin of 7.38%. During the same period last year, the firm earned $0.08 earnings per share.

QuickLogic Price Performance

NASDAQ:QUIK traded down $0.75 during mid-day trading on Tuesday, reaching $7.39. 370,954 shares of the company were exchanged, compared to its average volume of 229,876. The stock has a market cap of $106.90 million, a PE ratio of 62.50 and a beta of 1.56. The company has a quick ratio of 1.14, a current ratio of 1.21 and a debt-to-equity ratio of 0.01. The company has a fifty day moving average of $7.85 and a 200 day moving average of $9.95. QuickLogic has a 12 month low of $7.01 and a 12 month high of $20.75.

Analysts Set New Price Targets

A number of research firms have recently weighed in on QUIK. StockNews.com downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Oppenheimer dropped their price objective on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 14th. Finally, Craig Hallum cut their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday.

Insider Activity

In related news, CFO Elias Nader sold 4,458 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $7.42, for a total transaction of $33,078.36. Following the completion of the transaction, the chief financial officer now directly owns 52,740 shares in the company, valued at approximately $391,330.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other QuickLogic news, CEO Brian C. Faith sold 27,866 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total transaction of $246,056.78. Following the transaction, the chief executive officer now owns 215,849 shares in the company, valued at $1,905,946.67. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Elias Nader sold 4,458 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $7.42, for a total value of $33,078.36. Following the completion of the transaction, the chief financial officer now owns 52,740 shares in the company, valued at $391,330.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 44,202 shares of company stock valued at $378,653. 2.49% of the stock is currently owned by 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.