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

QuickLogic (NASDAQ:QUIK) posted its quarterly earnings results 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 net margin of 6.83% and a negative return on equity of 7.30%.

QuickLogic Stock Down 4.9 %

NASDAQ:QUIK traded down $0.34 during mid-day trading on Tuesday, reaching $6.59. The stock had a trading volume of 448,851 shares, compared to its average volume of 251,415. The stock has a market cap of $96.92 million, a P/E ratio of -65.90 and a beta of 1.39. The business’s 50 day moving average is $8.85 and its 200 day moving average is $8.26. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.12 and a quick ratio of 1.05. QuickLogic has a fifty-two week low of $6.41 and a fifty-two week high of $20.75.

Insider Buying and Selling at QuickLogic

In related news, VP Timothy Saxe sold 10,886 shares of QuickLogic stock in a transaction on Thursday, December 5th. The shares were sold at an average price of $7.39, for a total value of $80,447.54. Following the completion of the sale, the vice president now owns 117,609 shares of the company’s stock, valued at approximately $869,130.51. The trade was a 8.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Elias Nader sold 8,711 shares of the company’s stock in a transaction 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 sale, the chief financial officer now owns 60,955 shares of the company’s stock, valued at $450,457.45. This represents a 12.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 44,960 shares of company stock worth $331,150 over the last ninety days. 2.49% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

QUIK has been the topic of a number of research reports. Northland Capmk upgraded QuickLogic to a “strong-buy” rating in a report on Tuesday, December 17th. Craig Hallum dropped their price objective on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Tuesday, November 12th. StockNews.com upgraded shares of QuickLogic to a “sell” rating in a research report on Wednesday, December 11th. Finally, Northland Securities initiated coverage on shares of QuickLogic in a report on Tuesday, December 17th. They set an “outperform” rating and a $11.60 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $11.53.

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.