QuickLogic (NASDAQ:QUIK) Announces Quarterly Earnings Results

QuickLogic (NASDAQ:QUIK) posted its quarterly earnings data on Monday. The semiconductor company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.01), RTT News reports. QuickLogic had a negative return on equity of 7.35% and a negative net margin of 6.83%. The company had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same quarter in the previous year, the firm posted $0.08 EPS.

QuickLogic Stock Performance

QUIK traded up $0.50 during midday trading on Wednesday, reaching $7.89. The company had a trading volume of 253,944 shares, compared to its average volume of 229,986. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.21. The stock has a market cap of $114.17 million, a PE ratio of -77.20 and a beta of 1.56. QuickLogic has a 12-month low of $7.01 and a 12-month high of $20.75. The business has a 50-day moving average price of $7.85 and a two-hundred day moving average price of $9.91.

Analyst Ratings Changes

A number of research firms have weighed in on QUIK. Craig Hallum decreased their price objective on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Tuesday. StockNews.com downgraded shares of QuickLogic from a “hold” rating to a “sell” rating in a research report on Tuesday, August 13th. Finally, Oppenheimer dropped their target price on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a report on Wednesday, August 14th.

Insiders Place Their Bets

In other news, CFO Elias Nader sold 4,458 shares of the business’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $7.42, for a total value of $33,078.36. Following the completion of the sale, the chief financial officer now owns 52,740 shares of the company’s stock, valued at approximately $391,330.80. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other QuickLogic news, CEO Brian C. Faith sold 27,866 shares of the stock in a transaction 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 completion of 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 sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Elias Nader sold 4,458 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $7.42, for a total value of $33,078.36. Following the sale, the chief financial officer now directly owns 52,740 shares in the company, valued at $391,330.80. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,324 shares of company stock worth $363,535 over the last 90 days. Corporate 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.