QuickLogic (NASDAQ:QUIK) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

QuickLogic (NASDAQ:QUIK) announced 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. The firm had revenue of $4.27 million for the quarter, compared to analysts’ expectations of $4.20 million. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.35%. During the same period in the previous year, the company posted $0.08 EPS.

QuickLogic Stock Performance

Shares of QUIK stock opened at $7.39 on Wednesday. The company’s fifty day simple moving average is $7.85 and its 200-day simple moving average is $9.95. QuickLogic has a 52 week low of $7.01 and a 52 week high of $20.75. The company has a debt-to-equity ratio of 0.01, a current ratio of 1.21 and a quick ratio of 1.14.

Analysts Set New Price Targets

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

Insider Activity

In other news, CFO Elias Nader sold 4,458 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total value of $33,078.36. Following the transaction, the chief financial officer now owns 52,740 shares of the company’s stock, valued at approximately $391,330.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, CFO Elias Nader sold 4,458 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $7.42, for a total transaction of $33,078.36. Following the completion of the sale, the chief financial officer now directly owns 52,740 shares of the company’s stock, valued at approximately $391,330.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Brian C. Faith sold 27,866 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 215,849 shares of the company’s stock, 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 valued at $363,535. Company insiders own 1.70% 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.