QuickLogic (NASDAQ:QUIK) Posts Earnings Results, Misses Expectations By $0.01 EPS

QuickLogic (NASDAQ:QUIK) announced its earnings results on Monday. The semiconductor company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.01), RTT News reports. QuickLogic had a negative net margin of 6.83% and a negative return on equity of 7.35%. The business had revenue of $4.27 million during the quarter, compared to analysts’ expectations of $4.20 million. During the same period in the previous year, the company posted $0.08 earnings per share.

QuickLogic Price Performance

Shares of QUIK opened at $7.39 on Wednesday. The company has a debt-to-equity ratio of 0.01, a quick ratio of 1.14 and a current ratio of 1.21. The firm’s 50-day moving average is $7.85 and its two-hundred day moving average is $9.95. QuickLogic has a twelve month low of $7.01 and a twelve month high of $20.75.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. StockNews.com cut shares of QuickLogic from a “hold” rating to a “sell” rating in a report on Tuesday, August 13th. Oppenheimer cut their price target on shares of QuickLogic from $16.00 to $13.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. Finally, Craig Hallum cut their price target on shares of QuickLogic from $12.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday.

Insiders Place Their Bets

In other QuickLogic news, CFO Elias Nader sold 4,458 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $7.42, for a total transaction of $33,078.36. Following the transaction, the chief financial officer now directly owns 52,740 shares in the company, valued at approximately $391,330.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Brian C. Faith sold 27,866 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $8.83, for a total value of $246,056.78. Following the sale, the chief executive officer now directly owns 215,849 shares in the company, valued at $1,905,946.67. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Elias Nader sold 4,458 shares of the stock in a transaction that occurred 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 owns 52,740 shares in the company, valued at $391,330.80. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,324 shares of company stock worth $363,535. 1.70% of the stock is owned by company insiders.

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.