QuickLogic (NASDAQ:QUIK) Releases Earnings Results, Misses Expectations By $0.30 EPS

QuickLogic (NASDAQ:QUIK) issued its earnings results on Tuesday. The semiconductor company reported ($0.02) EPS for the quarter, missing analysts’ consensus estimates 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 Price Performance

Shares of NASDAQ QUIK traded down $0.34 during midday trading on Tuesday, hitting $6.59. The stock had a trading volume of 448,851 shares, compared to its average volume of 251,415. The company has a market capitalization of $96.92 million, a PE ratio of -65.90 and a beta of 1.39. The stock has a 50 day simple moving average of $8.85 and a 200-day simple moving average of $8.26. QuickLogic has a 1 year low of $6.41 and a 1 year high of $20.75. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Craig Hallum lowered their price target 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 assumed coverage on QuickLogic in a research report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 price target on the stock. Northland Capmk upgraded QuickLogic to a “strong-buy” rating in a research report on Tuesday, December 17th. Finally, StockNews.com upgraded QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $11.53.

Insider Activity

In other news, VP Timothy Saxe sold 10,886 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total value of $80,447.54. Following the transaction, the vice president now owns 117,609 shares in the company, valued at $869,130.51. This trade represents a 8.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Elias Nader sold 8,711 shares of the firm’s stock in a transaction that occurred on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $64,374.29. Following the completion of the transaction, the chief financial officer now owns 60,955 shares in the company, valued at approximately $450,457.45. This trade represents a 12.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 44,960 shares of company stock worth $331,150 over the last quarter. 2.49% of the stock is currently owned by corporate 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.