QuickLogic Corporation (NASDAQ:QUIK) Posts Quarterly Earnings Results, Hits Estimates
QuickLogic Corporation (NASDAQ:QUIK) issued its quarterly earnings data on Wednesday, August 9th. The semiconductor company reported ($0.05) earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.05), Briefing.com reports. QuickLogic Corporation had a negative net margin of 130.99% and a negative return on equity of 84.50%. The company had revenue of $3.03 million during the quarter, compared to the consensus estimate of $3.20 million. During the same quarter in the prior year, the firm earned ($0.07) earnings per share. The firm’s revenue was up 11.4% compared to the same quarter last year.
QuickLogic Corporation (NASDAQ:QUIK) traded up 1.57% during trading on Friday, reaching $1.29. 244,989 shares of the company were exchanged. The stock’s market capitalization is $103.34 million. The firm’s 50 day moving average price is $1.39 and its 200-day moving average price is $1.53. QuickLogic Corporation has a one year low of $0.75 and a one year high of $2.48.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. EAM Investors LLC acquired a new position in shares of QuickLogic Corporation during the first quarter valued at about $609,000. Driehaus Capital Management LLC bought a new stake in QuickLogic Corporation during the first quarter valued at approximately $821,000. AWM Investment Company Inc. bought a new stake in QuickLogic Corporation during the first quarter valued at approximately $178,000. Segantii Capital Management Ltd bought a new stake in QuickLogic Corporation during the first quarter valued at approximately $189,000. Finally, Creative Planning raised its stake in QuickLogic Corporation by 1,565.6% in the first quarter. Creative Planning now owns 161,177 shares of the semiconductor company’s stock valued at $287,000 after buying an additional 151,500 shares during the period. 20.23% of the stock is currently owned by institutional investors.
QUIK has been the subject of several recent research reports. Roth Capital cut shares of QuickLogic Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, May 11th. Zacks Investment Research cut shares of QuickLogic Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, May 17th.
About QuickLogic Corporation
QuickLogic Corporation develops and markets semiconductor and software algorithm solutions. The Company’s solutions primarily target smartphones, wearable devices, tablets, and the Internet-of-Things (IoT). The Company is a fabless semiconductor provider of flexible sensor processing solutions, ultra-low power display bridges, and ultra-low power Field Programmable Gate Arrays (FPGAs).
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