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

QuickLogic (NASDAQ:QUIK) posted its quarterly earnings results on Tuesday. The semiconductor company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.02), FiscalAI reports. QuickLogic had a negative net margin of 107.70% and a negative return on equity of 47.54%. The company had revenue of $5.05 million for the quarter, compared to analyst estimates of $5.51 million.

QuickLogic Price Performance

Shares of QuickLogic stock traded down $1.64 during trading on Tuesday, hitting $19.05. 1,039,773 shares of the company were exchanged, compared to its average volume of 297,673. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.04. QuickLogic has a fifty-two week low of $4.80 and a fifty-two week high of $21.48. The stock has a market capitalization of $337.57 million, a price-to-earnings ratio of -21.17 and a beta of 1.11. The firm has a 50 day moving average price of $11.30 and a 200 day moving average price of $8.48.

Insider Activity

In related news, Director Michael J. Farese sold 4,800 shares of QuickLogic stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $11.71, for a total transaction of $56,208.00. Following the completion of the transaction, the director directly owned 30,540 shares in the company, valued at $357,623.40. The trade was a 13.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 17,294 shares of company stock worth $172,515. Insiders own 3.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of QUIK. Goldman Sachs Group Inc. grew its stake in QuickLogic by 62.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company’s stock worth $282,000 after acquiring an additional 21,275 shares during the period. Jane Street Group LLC purchased a new stake in QuickLogic in the 1st quarter worth approximately $87,000. XTX Topco Ltd purchased a new stake in QuickLogic in the 2nd quarter worth approximately $171,000. Qube Research & Technologies Ltd grew its stake in QuickLogic by 40.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock worth $613,000 after acquiring an additional 28,751 shares during the period. Finally, Raymond James Financial Inc. grew its stake in QuickLogic by 2.8% in the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock worth $1,295,000 after acquiring an additional 5,721 shares during the period. 31.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

QUIK has been the subject of a number of research reports. Lake Street Capital initiated coverage on shares of QuickLogic in a research report on Monday, February 9th. They set a “buy” rating and a $10.00 price target for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of QuickLogic in a research report on Friday, March 27th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $10.50.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.