QuickLogic (NASDAQ:QUIK) Issues Earnings Results

Key Points

• QuickLogic missed quarterly expectations: The semiconductor company reported an adjusted loss of $0.06 per share versus the expected $0.04 loss, while revenue of $5.48 million fell short of the $6.00 million consensus.
• Shares rose $0.47 to $14.23 during Tuesday trading, though the company remains unprofitable with a negative net margin of 102.41% and negative return on equity of 48.97%.
• Analyst sentiment is mixed, with two Buy, one Hold, and one Sell rating; the average price target is $22.00. Meanwhile, insiders sold approximately $1.0 million in stock over the past quarter.

QuickLogic (NASDAQ:QUIK - Get Free Report) 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 analysts' expectations of $6.00 million.

QuickLogic Stock Performance

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

Analysts Set New Price Targets

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

Insider Transactions at QuickLogic

In other QuickLogic news, CEO Brian C. Faith sold 41,480 shares of the company's stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $20.45, for a total transaction of $848,266.00. Following the completion of the sale, the chief executive officer directly owned 228,412 shares of the company's stock, valued at approximately $4,671,025.40. This represents a 15.37% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Gary H. Tauss sold 2,195 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $19.20, for a total transaction of $42,144.00. Following the completion of the transaction, the director owned 15,908 shares in the company, valued at $305,433.60. The trade was a 12.13% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 49,175 shares of company stock worth $1,000,410 in the last quarter. Company insiders own 3.20% of the company's stock.

Hedge Funds Weigh In On QuickLogic

A number of institutional investors have recently bought and sold shares of the stock. XTX Topco Ltd purchased a new position in QuickLogic during the fourth quarter valued at $166,000. Captrust Financial Advisors increased its position in QuickLogic by 4.5% in the fourth quarter. Captrust Financial Advisors now owns 35,618 shares of the semiconductor company's stock worth $214,000 after buying an additional 1,547 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of QuickLogic in the fourth quarter worth about $84,000. State Street Corp lifted its position in shares of QuickLogic by 5.0% during the 4th quarter. State Street Corp now owns 65,056 shares of the semiconductor company's stock valued at $391,000 after buying an additional 3,100 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of QuickLogic by 245.2% during the 4th quarter. Jane Street Group LLC now owns 47,906 shares of the semiconductor company's stock valued at $288,000 after acquiring an additional 34,029 shares during the period. 31.54% of the stock is owned by 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.

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