QuickLogic (NASDAQ:QUIK) Releases Earnings Results, Misses Expectations By $0.02 EPS

QuickLogic (NASDAQ:QUIK) announced its quarterly earnings data on Tuesday. The semiconductor company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.04) by ($0.02), FiscalAI reports. QuickLogic had a negative net margin of 102.41% and a negative return on equity of 48.97%. The firm had revenue of $5.48 million for the quarter, compared to the consensus estimate of $6.00 million.

QuickLogic Price Performance

Shares of QUIK traded up $0.47 during midday trading on Tuesday, hitting $14.23. 212,989 shares of the company traded hands, compared to its average volume of 364,343. The firm has a 50 day moving average of $16.93 and a 200-day moving average of $13.55. QuickLogic has a 52 week low of $4.80 and a 52 week high of $24.33. The stock has a market cap of $259.41 million, a price-to-earnings ratio of -15.99 and a beta of 1.24. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.53 and a current ratio of 1.68.

Analyst Ratings Changes

QUIK has been the subject of a number of analyst reports. Needham & Company LLC initiated coverage on QuickLogic in a research note on Wednesday, May 20th. They issued a “buy” rating and a $22.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of QuickLogic in a research report on Wednesday, June 24th. Lake Street Capital reaffirmed a “buy” rating and issued a $22.00 price objective (up from $11.00) on shares of QuickLogic in a research note on Wednesday, May 13th. Finally, Wall Street Zen upgraded QuickLogic from a “sell” rating to a “hold” rating in a research report on Saturday, May 16th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $22.00.

Insider Transactions at QuickLogic

In related news, Director Joyce Kim sold 5,500 shares of the business’s stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $20.00, for a total value of $110,000.00. Following the sale, the director directly owned 2,140 shares in the company, valued at approximately $42,800. The trade was a 71.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Brian C. Faith sold 41,480 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total value of $848,266.00. Following the transaction, the chief executive officer directly owned 228,412 shares of the company’s stock, valued at approximately $4,671,025.40. The trade was a 15.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 49,175 shares of company stock valued at $1,000,410. 3.20% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Tower Research Capital LLC TRC increased its holdings in shares of QuickLogic by 246.5% in the 2nd quarter. Tower Research Capital LLC TRC now owns 6,891 shares of the semiconductor company’s stock worth $42,000 after buying an additional 4,902 shares during the last quarter. Squarepoint Ops LLC purchased a new position in QuickLogic in the fourth quarter worth about $84,000. Dimensional Fund Advisors LP purchased a new position in QuickLogic in the fourth quarter worth about $102,000. Jane Street Group LLC bought a new stake in QuickLogic during the first quarter worth approximately $87,000. Finally, XTX Topco Ltd bought a new stake in QuickLogic during the fourth quarter worth approximately $166,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

QuickLogic Company Profile

QuickLogic Corporation (NASDAQ: QUIK) is a fabless semiconductor company that specializes in ultra-low power, multi-core sensor processing System-on-Chip (SoC) solutions and embedded field programmable gate array (eFPGA) intellectual property. The company’s products are designed to enable always-on, voice-activated, and vision-driven applications at the edge, delivering a balance of performance, flexibility, and power efficiency. QuickLogic’s technology is often deployed in consumer, mobile, and industrial IoT devices, where minimizing energy consumption is critical.

Among QuickLogic’s key offerings is the EOS™ family of sensor processing SoCs, which integrate ARM Cortex-M cores alongside proprietary sensor fusion and neural network engines, coupled with customizable FPGA fabric.