QuickLogic (NASDAQ:QUIK) Releases Quarterly Earnings Results, Misses Expectations 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) issued its quarterly earnings data on Tuesday. The semiconductor company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.07), Zacks reports. QuickLogic had a negative return on equity of 25.69% and a negative net margin of 33.31%.

QuickLogic Stock Performance

NASDAQ QUIK traded up $0.05 on Tuesday, hitting $5.82. 176,566 shares of the company traded hands, compared to its average volume of 198,260. The company has a market capitalization of $92.19 million, a price-to-earnings ratio of -14.19 and a beta of 0.63. The company has a current ratio of 1.18, a quick ratio of 1.14 and a debt-to-equity ratio of 0.03. The business's 50 day moving average price is $6.13 and its 200-day moving average price is $6.06. QuickLogic has a 52-week low of $4.26 and a 52-week high of $13.36.

Wall Street Analyst Weigh In

QUIK has been the subject of several research analyst reports. Oppenheimer cut their price objective on QuickLogic from $13.00 to $11.00 and set an "outperform" rating for the company in a report on Wednesday, May 14th. Wall Street Zen upgraded QuickLogic from a "sell" rating to a "hold" rating in a research report on Saturday, June 14th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $10.87.

Hedge Funds Weigh In On QuickLogic

Several institutional investors and hedge funds have recently bought and sold shares of QUIK. Jane Street Group LLC purchased a new position in shares of QuickLogic in the first quarter valued at about $87,000. Goldman Sachs Group Inc. lifted its position 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 acquiring an additional 21,275 shares in the last quarter. Finally, XTX Topco Ltd purchased a new position in shares of QuickLogic in the second quarter valued at about $171,000. 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.

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