QuickLogic (NASDAQ:QUIK) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

QuickLogic (NASDAQ:QUIK) announced its earnings results on Tuesday. The semiconductor company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.02), FiscalAI reports. The company had revenue of $5.14 million during the quarter, compared to analyst estimates of $5.51 million. QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%.

QuickLogic Stock Down 3.0%

QUIK traded down $0.25 on Tuesday, hitting $8.22. 210,417 shares of the company were exchanged, compared to its average volume of 323,186. The company has a market cap of $150.59 million, a PE ratio of -10.68 and a beta of 1.18. QuickLogic has a 12 month low of $5.28 and a 12 month high of $24.33. The stock’s fifty day moving average is $10.09 and its 200-day moving average is $12.56. The company has a debt-to-equity ratio of 0.03, a quick ratio of 2.06 and a current ratio of 2.15.

Insider Buying and Selling at QuickLogic

In other news, CFO Elias Nader sold 8,291 shares of the business’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.21, for a total transaction of $84,651.11. Following the transaction, the chief financial officer directly owned 88,845 shares in the company, valued at $907,107.45. The trade was a 8.54% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian C. Faith sold 17,255 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.21, for a total transaction of $176,173.55. Following the completion of the sale, the chief executive officer directly owned 271,065 shares in the company, valued at approximately $2,767,573.65. The trade was a 5.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 90,044 shares of company stock worth $950,748 over the last quarter. 3.20% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

QUIK has been the topic of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $20.00 price target on shares of QuickLogic in a report on Monday, September 21st. Weiss Ratings downgraded QuickLogic from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. Two analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $21.00.

About QuickLogic

QuickLogic Corporation is a fabless semiconductor company that develops low-power, programmable semiconductor solutions and embedded FPGA (eFPGA) intellectual property. Its technology is designed to allow customers to add configurable logic to application-specific integrated circuits (ASICs) and systems-on-chip (SoCs), helping support customization, connectivity, sensor processing and other functions without requiring a separate FPGA device. The company offers eFPGA IP, customer-specific standard products (CSSPs), and related development tools and design services.