QuickLogic (NASDAQ:QUIK) Announces Quarterly Earnings Results

QuickLogic (NASDAQ:QUIK) released its earnings results on Tuesday. The semiconductor company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.02), FiscalAI reports. The firm had revenue of $5.05 million during the quarter, compared to analysts’ expectations of $5.51 million. QuickLogic had a negative return on equity of 47.54% and a negative net margin of 107.70%.

QuickLogic Trading Down 7.9%

Shares of NASDAQ QUIK traded down $1.64 during trading on Tuesday, hitting $19.05. 1,039,773 shares of the company traded hands, compared to its average volume of 297,673. QuickLogic has a 1 year low of $4.80 and a 1 year high of $21.48. The company has a 50-day moving average price of $11.30 and a 200-day moving average price of $8.48. The firm has a market capitalization of $337.57 million, a P/E ratio of -21.17 and a beta of 1.11. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.04.

Insider Activity

In other news, Director Michael J. Farese sold 4,800 shares of the business’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $11.71, for a total transaction of $56,208.00. Following the completion of the sale, the director directly owned 30,540 shares of the company’s stock, valued at $357,623.40. The trade was a 13.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 17,294 shares of company stock worth $172,515. 3.20% of the stock is owned by insiders.

Institutional Trading of QuickLogic

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in QuickLogic by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 655,877 shares of the semiconductor company’s stock valued at $3,975,000 after buying an additional 28,587 shares during the last quarter. Raymond James Financial Inc. boosted its position in QuickLogic by 2.8% in the 2nd quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company’s stock valued at $1,295,000 after buying an additional 5,721 shares during the last quarter. Geode Capital Management LLC boosted its position in QuickLogic by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 169,902 shares of the semiconductor company’s stock valued at $1,021,000 after buying an additional 11,543 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of QuickLogic by 40.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company’s stock valued at $613,000 after purchasing an additional 28,751 shares in the last quarter. Finally, Two Sigma Investments LP bought a new position in shares of QuickLogic during the third quarter worth about $406,000. 31.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on QUIK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of QuickLogic in a research note on Friday, March 27th. Lake Street Capital began coverage on shares of QuickLogic in a research note on Monday, February 9th. They set a “buy” rating and a $10.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $10.50.

About QuickLogic

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.