QuickLogic (NASDAQ:QUIK) Posts Quarterly Earnings Results, Misses Expectations By $0.06 EPS

QuickLogic (NASDAQ:QUIK) announced its earnings results on Tuesday. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.06), RTT News reports. The firm had revenue of $4.13 million for the quarter, compared to analyst estimates of $4.50 million. QuickLogic had a return on equity of 6.57% and a net margin of 4.65%. During the same quarter last year, the business earned ($0.17) EPS.

QuickLogic Stock Down 11.7 %

NASDAQ:QUIK traded down $1.10 on Wednesday, hitting $8.32. 692,810 shares of the company’s stock were exchanged, compared to its average volume of 263,128. The company has a market cap of $119.97 million, a P/E ratio of 132.50 and a beta of 1.63. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.24 and a quick ratio of 1.17. QuickLogic has a 52 week low of $7.25 and a 52 week high of $20.75. The firm has a 50-day moving average price of $10.73 and a 200-day moving average price of $12.75.

Insider Buying and Selling

In other news, VP Timothy Saxe sold 10,000 shares of QuickLogic stock in a transaction on Monday, May 20th. The stock was sold at an average price of $11.76, for a total transaction of $117,600.00. Following the completion of the sale, the vice president now owns 114,934 shares of the company’s stock, valued at $1,351,623.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.49% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on QUIK shares. Craig Hallum reduced their target price on QuickLogic from $16.00 to $12.00 and set a “buy” rating on the stock in a report on Wednesday. StockNews.com lowered QuickLogic from a “hold” rating to a “sell” rating in a research note on Tuesday. Finally, Oppenheimer cut their price target on QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday.

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.