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

QuickLogic (NASDAQ:QUIK) issued its quarterly earnings data on Monday. The semiconductor company reported ($0.06) 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 return on equity of 9.56% and a net margin of 7.38%. During the same period last year, the firm earned $0.08 EPS.

QuickLogic Stock Down 9.2 %

QUIK stock traded down $0.75 on Tuesday, hitting $7.39. 370,954 shares of the company’s stock were exchanged, compared to its average volume of 229,876. The firm has a 50 day moving average price of $7.85 and a two-hundred day moving average price of $9.95. QuickLogic has a 12-month low of $7.01 and a 12-month high of $20.75. The stock has a market cap of $106.90 million, a P/E ratio of 62.50 and a beta of 1.56. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.21.

Wall Street Analyst Weigh In

QUIK has been the topic of a number of analyst reports. StockNews.com downgraded QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Craig Hallum reduced their target price on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday. Finally, Oppenheimer decreased their price target 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 business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction of $84,400.00. Following the sale, the vice president now owns 104,934 shares in the company, valued at approximately $885,642.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other QuickLogic news, CEO Brian C. Faith sold 27,866 shares of the company’s stock in a transaction that occurred 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 in the company, valued at approximately $1,905,946.67. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction of $84,400.00. Following the sale, the vice president now directly owns 104,934 shares of the company’s stock, valued at $885,642.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,202 shares of company stock worth $378,653. 2.49% of the stock is owned by insiders.

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.