QuickLogic (NASDAQ:QUIK) Announces Earnings Results, Misses Estimates By $0.07 EPS

Key Points

• QuickLogic reported a quarterly earnings per share (EPS) of ($0.14), missing the consensus estimate of ($0.07) by the same margin.
• The company's market capitalization stands at $92.19 million, with a current stock price of $5.82 and a 52-week range between $4.26 and $13.36.
• Analysts have mixed ratings, with Oppenheimer lowering their price target from $13.00 to $11.00, while the average consensus price target remains at $10.87.

QuickLogic (NASDAQ:QUIK - Get Free Report) posted its quarterly earnings data on Tuesday. The semiconductor company reported ($0.14) earnings per share for the quarter, missing analysts' consensus estimates of ($0.07) by ($0.07), Zacks reports. QuickLogic had a negative net margin of 40.36% and a negative return on equity of 27.35%. The firm had revenue of $3.69 million during the quarter, compared to analyst estimates of $4.00 million.

QuickLogic Stock Down 13.9%

Shares of QUIK stock traded down $0.91 on Friday, hitting $5.62. The stock had a trading volume of 579,741 shares, compared to its average volume of 190,041. The firm has a market capitalization of $92.34 million, a price-to-earnings ratio of -11.96 and a beta of 0.63. The stock's 50 day moving average is $6.16 and its 200-day moving average is $6.01. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.14 and a current ratio of 1.27. QuickLogic has a 52-week low of $4.26 and a 52-week high of $13.36.

Wall Street Analysts Forecast Growth

QUIK has been the subject of several research reports. Wall Street Zen downgraded shares of QuickLogic from a "hold" rating to a "sell" rating in a research note on Saturday. Oppenheimer decreased their price objective on shares of QuickLogic from $13.00 to $11.00 and set an "outperform" rating for the company in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $10.87.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QUIK. Goldman Sachs Group Inc. boosted its stake in shares of QuickLogic by 62.8% in the first quarter. Goldman Sachs Group Inc. now owns 55,158 shares of the semiconductor company's stock valued at $282,000 after purchasing an additional 21,275 shares during the period. Jane Street Group LLC acquired a new stake in shares of QuickLogic during the first quarter worth $87,000. XTX Topco Ltd acquired a new stake in shares of QuickLogic during the second quarter worth $171,000. Qube Research & Technologies Ltd raised its holdings in shares of QuickLogic by 40.6% during the second quarter. Qube Research & Technologies Ltd now owns 99,576 shares of the semiconductor company's stock worth $613,000 after purchasing an additional 28,751 shares during the period. Finally, Raymond James Financial Inc. raised its holdings in shares of QuickLogic by 2.8% during the second quarter. Raymond James Financial Inc. now owns 210,199 shares of the semiconductor company's stock worth $1,295,000 after purchasing an additional 5,721 shares during the period. 31.54% of the stock is currently owned by hedge funds and other institutional investors.

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.