QuickLogic (NASDAQ:QUIK – Get Free Report) posted its earnings results on Tuesday. The semiconductor company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.02), FiscalAI reports. QuickLogic had a negative return on equity of 45.22% and a negative net margin of 80.18%. The company had revenue of $5.14 million for the quarter, compared to the consensus estimate of $5.51 million.
QuickLogic Trading Down 3.0%
Shares of QUIK stock traded down $0.25 on Tuesday, reaching $8.22. 210,417 shares of the stock were exchanged, compared to its average volume of 323,186. The stock has a 50 day moving average price of $10.09 and a 200 day moving average price of $12.56. The company has a debt-to-equity ratio of 0.03, a current ratio of 2.15 and a quick ratio of 2.06. The stock has a market cap of $150.59 million, a PE ratio of -10.68 and a beta of 1.18. QuickLogic has a one year low of $5.28 and a one year high of $24.33.
Insider Buying and Selling
In related news, CFO Elias Nader sold 8,291 shares of QuickLogic stock in a transaction on Thursday, September 17th. The stock was sold at an average price of $10.21, for a total transaction of $84,651.11. Following the completion of the sale, the chief financial officer directly owned 88,845 shares of the company’s stock, valued at $907,107.45. The trade was a 8.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brian C. Faith sold 17,255 shares of the company’s stock in a transaction dated Thursday, September 17th. The shares were sold at an average price of $10.21, for a total value of $176,173.55. Following the completion of the sale, the chief executive officer owned 271,065 shares of the company’s stock, valued at $2,767,573.65. This represents a 5.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 90,044 shares of company stock valued at $950,748 over the last ninety days. Insiders own 3.20% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently commented on QUIK. Needham & Company LLC restated a “buy” rating and issued a $20.00 target price on shares of QuickLogic in a research note on Monday, September 21st. Weiss Ratings lowered shares of QuickLogic from a “sell (d-)” rating to a “sell (e+)” rating in a report on Friday, October 30th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $21.00.
View Our Latest Research Report on QUIK
About QuickLogic
QuickLogic Corporation is a fabless semiconductor company that develops low-power, programmable semiconductor solutions and embedded FPGA (eFPGA) intellectual property. Its technology is designed to allow customers to add configurable logic to application-specific integrated circuits (ASICs) and systems-on-chip (SoCs), helping support customization, connectivity, sensor processing and other functions without requiring a separate FPGA device. The company offers eFPGA IP, customer-specific standard products (CSSPs), and related development tools and design services.
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