QuickLogic (NASDAQ:QUIK) Posts Quarterly Earnings Results, Misses Estimates By $0.30 EPS

QuickLogic (NASDAQ:QUIK) released its quarterly earnings results on Tuesday. The semiconductor company reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.28 by ($0.30), Zacks reports. QuickLogic had a negative return on equity of 7.30% and a negative net margin of 6.83%.

QuickLogic Stock Performance

Shares of QUIK stock traded down $0.34 during mid-day trading on Tuesday, reaching $6.59. The stock had a trading volume of 448,851 shares, compared to its average volume of 251,415. The business’s fifty day moving average is $8.85 and its 200-day moving average is $8.26. The company has a current ratio of 1.12, a quick ratio of 1.05 and a debt-to-equity ratio of 0.06. The firm has a market cap of $96.92 million, a price-to-earnings ratio of -65.90 and a beta of 1.39. QuickLogic has a 1-year low of $6.41 and a 1-year high of $20.75.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on QUIK shares. Craig Hallum reduced their target price on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Tuesday, November 12th. Northland Securities started coverage on QuickLogic in a research report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 target price on the stock. Northland Capmk raised QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, StockNews.com raised QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, QuickLogic currently has an average rating of “Moderate Buy” and a consensus price target of $11.53.

Insider Activity

In other news, CEO Brian C. Faith sold 21,402 shares of the stock in a transaction dated Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $158,160.78. Following the transaction, the chief executive officer now directly owns 193,584 shares of the company’s stock, valued at approximately $1,430,585.76. This represents a 9.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy Saxe sold 10,886 shares of the stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $80,447.54. Following the completion of the transaction, the vice president now directly owns 117,609 shares in the company, valued at $869,130.51. This represents a 8.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,960 shares of company stock valued at $331,150. Company insiders own 2.49% of the company’s stock.

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.