Equities research analysts expect that QuickLogic Co. (NASDAQ:QUIK – Get Rating) will announce earnings per share of ($0.07) for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for QuickLogic’s earnings. QuickLogic posted earnings per share of ($0.12) in the same quarter last year, which indicates a positive year over year growth rate of 41.7%. The business is scheduled to issue its next earnings results on Tuesday, May 17th.
On average, analysts expect that QuickLogic will report full-year earnings of ($0.04) per share for the current fiscal year, with EPS estimates ranging from ($0.05) to ($0.02). For the next financial year, analysts forecast that the company will report earnings of $0.17 per share, with EPS estimates ranging from $0.14 to $0.20. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research firms that follow QuickLogic.
QuickLogic (NASDAQ:QUIK – Get Rating) last released its quarterly earnings data on Tuesday, February 15th. The semiconductor company reported ($0.04) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.03. QuickLogic had a negative return on equity of 67.84% and a negative net margin of 52.16%. During the same period in the prior year, the company earned ($0.26) EPS.
Several equities analysts recently issued reports on QUIK shares. Roth Capital upped their price objective on QuickLogic from $8.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, November 18th. StockNews.com began coverage on QuickLogic in a research note on Thursday. They issued a “hold” rating for the company. Finally, Zacks Investment Research upgraded QuickLogic from a “hold” rating to a “buy” rating and set a $5.75 price target for the company in a research note on Saturday, January 22nd.
Shares of QUIK traded down $0.11 during mid-day trading on Friday, reaching $4.95. The company had a trading volume of 43,642 shares, compared to its average volume of 47,265. The firm has a 50-day moving average price of $5.05 and a 200 day moving average price of $5.54. QuickLogic has a 52 week low of $4.25 and a 52 week high of $8.77. The company has a market capitalization of $58.39 million, a price-to-earnings ratio of -8.68 and a beta of 2.26.
In other QuickLogic news, CEO Brian C. Faith sold 41,170 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $4.36, for a total transaction of $179,501.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Timothy Saxe sold 21,409 shares of the stock in a transaction dated Wednesday, March 2nd. The shares were sold at an average price of $4.36, for a total transaction of $93,343.24. The disclosure for this sale can be found here. Corporate insiders own 3.15% of the company’s stock.
Several large investors have recently made changes to their positions in QUIK. Morgan Stanley raised its position in QuickLogic by 40.1% in the 1st quarter. Morgan Stanley now owns 6,647 shares of the semiconductor company’s stock worth $46,000 after purchasing an additional 1,904 shares during the period. Envestnet Asset Management Inc. increased its position in shares of QuickLogic by 14.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,452 shares of the semiconductor company’s stock worth $130,000 after acquiring an additional 3,240 shares during the period. BlackRock Inc. increased its position in shares of QuickLogic by 2.6% during the fourth quarter. BlackRock Inc. now owns 136,832 shares of the semiconductor company’s stock worth $699,000 after acquiring an additional 3,452 shares during the period. JPMorgan Chase & Co. purchased a new position in shares of QuickLogic during the second quarter worth approximately $25,000. Finally, Advisor Group Holdings Inc. increased its position in shares of QuickLogic by 10.6% during the third quarter. Advisor Group Holdings Inc. now owns 36,528 shares of the semiconductor company’s stock worth $196,000 after acquiring an additional 3,508 shares during the period. 21.76% of the stock is owned by hedge funds and other institutional investors.
About QuickLogic
QuickLogic Corp. operates as a semiconductor company, which designs, markets, and supports primarily Customer Specific Standard Products and secondarily, Field Programmable Gate Arrays, sensor software algorithms, software drivers, associated design software and programming hardware. It develops and markets low power customizable semiconductor and software algorithm solutions that enable customers to differentiate their products by adding new features, extending battery life, becoming more contextually aware and improving the visual experience with their mobile, consumer and enterprise products.