QuickLogic (NASDAQ:QUIK) Issues Quarterly Earnings Results

QuickLogic (NASDAQ:QUIK) posted its earnings results on Monday. The semiconductor company reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.27 million for the quarter, compared to analyst estimates of $4.20 million. During the same period in the prior year, the business posted $0.08 EPS.

QuickLogic Price Performance

Shares of NASDAQ:QUIK opened at $7.89 on Thursday. The firm has a 50 day moving average of $7.85 and a 200-day moving average of $9.91. QuickLogic has a 12 month low of $7.01 and a 12 month high of $20.75. The company has a current ratio of 1.21, a quick ratio of 1.14 and a debt-to-equity ratio of 0.01. The stock has a market capitalization of $114.17 million, a PE ratio of -77.20 and a beta of 1.56.

Analyst Ratings Changes

Several brokerages have weighed in on QUIK. StockNews.com cut shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday, August 13th. Craig Hallum dropped their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Oppenheimer reduced their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 14th.

Insider Buying and Selling

In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $8.44, for a total transaction of $84,400.00. Following the completion of the transaction, the vice president now directly owns 104,934 shares in the company, valued at $885,642.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other QuickLogic news, VP Timothy Saxe sold 10,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $8.44, for a total transaction of $84,400.00. Following the completion of the transaction, the vice president now owns 104,934 shares of the company’s stock, valued at approximately $885,642.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brian C. Faith sold 27,866 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total transaction 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,324 shares of company stock worth $363,535. 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.