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

QuickLogic (NASDAQ:QUIK) posted its quarterly earnings data on Tuesday. The semiconductor company reported ($0.02) earnings per share 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 Price Performance

NASDAQ:QUIK traded down $0.34 during trading hours on Tuesday, reaching $6.59. 448,851 shares of the company’s stock were exchanged, compared to its average volume of 251,415. The company has a quick ratio of 1.05, a current ratio of 1.12 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $96.92 million, a P/E ratio of -65.90 and a beta of 1.39. QuickLogic has a 12 month low of $6.41 and a 12 month high of $20.75. The business’s 50-day simple moving average is $8.85 and its two-hundred day simple moving average is $8.26.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on QUIK shares. Northland Capmk raised shares of QuickLogic to a “strong-buy” rating in a research note on Tuesday, December 17th. Northland Securities initiated coverage on QuickLogic in a research report on Tuesday, December 17th. They issued an “outperform” rating and a $11.60 target price for the company. StockNews.com raised QuickLogic to a “sell” rating in a research note on Wednesday, December 11th. Finally, Craig Hallum dropped their price objective on QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. One equities research 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 company. According to MarketBeat, QuickLogic has a consensus rating of “Moderate Buy” and a consensus price target of $11.53.

Insider Buying and Selling at QuickLogic

In other QuickLogic news, CEO Brian C. Faith sold 21,402 shares of the firm’s stock in a transaction dated Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $158,160.78. Following the completion of the transaction, the chief executive officer now directly owns 193,584 shares in the company, valued at $1,430,585.76. This trade represents a 9.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Elias Nader sold 8,711 shares of QuickLogic stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $7.39, for a total transaction of $64,374.29. Following the completion of the transaction, the chief financial officer now directly owns 60,955 shares in the company, valued at approximately $450,457.45. This trade represents a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,960 shares of company stock valued at $331,150. Corporate insiders own 2.49% of the company’s stock.

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.