QuickLogic Corporation (QUIK) Issues Earnings Results, Meets Estimates
QuickLogic Corporation (NASDAQ:QUIK) announced its quarterly earnings data on Wednesday. The semiconductor company reported ($0.05) EPS for the quarter, hitting the Zacks’ consensus estimate of ($0.05), Briefing.com reports. QuickLogic Corporation had a negative return on equity of 95.11% and a negative net margin of 151.36%. The firm had revenue of $3.03 million for the quarter, compared to the consensus estimate of $3.20 million. During the same quarter last year, the business posted ($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 1.45% on Thursday, hitting $1.40. The stock had a trading volume of 87,657 shares. QuickLogic Corporation has a one year low of $0.75 and a one year high of $2.48. The company’s 50-day moving average is $1.43 and its 200-day moving average is $1.54. The stock’s market cap is $111.39 million.
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Hedge funds have recently made changes to their positions in the stock. Frontier Capital Management Co. LLC increased its position in QuickLogic Corporation by 63.8% in the first quarter. Frontier Capital Management Co. LLC now owns 6,825,273 shares of the semiconductor company’s stock worth $12,149,000 after buying an additional 2,657,793 shares during the period. Vanguard Group Inc. increased its position in QuickLogic Corporation by 106.3% in the first quarter. Vanguard Group Inc. now owns 3,383,138 shares of the semiconductor company’s stock worth $6,022,000 after buying an additional 1,742,844 shares during the period. Essex Investment Management Co. LLC purchased a new position in QuickLogic Corporation during the first quarter worth approximately $1,091,000. Firsthand Capital Management Inc. increased its position in QuickLogic Corporation by 92.6% in the first quarter. Firsthand Capital Management Inc. now owns 520,000 shares of the semiconductor company’s stock worth $926,000 after buying an additional 250,000 shares during the period. Finally, Driehaus Capital Management LLC purchased a new position in QuickLogic Corporation during the first quarter worth approximately $821,000. Institutional investors own 20.45% of the company’s stock.
A number of equities research analysts have commented on QUIK shares. Zacks Investment Research downgraded QuickLogic Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, April 19th. Roth Capital cut QuickLogic Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday, May 11th.
QuickLogic Corporation Company Profile
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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