Zacks: Analysts Anticipate QuickLogic Co. (NASDAQ:QUIK) to Post -$0.04 Earnings Per Share

Wall Street analysts expect QuickLogic Co. (NASDAQ:QUIK) to report earnings per share (EPS) of ($0.04) for the current quarter, Zacks reports. Two analysts have issued estimates for QuickLogic’s earnings. QuickLogic posted earnings per share of ($0.03) during the same quarter last year, which indicates a negative year-over-year growth rate of 33.3%. The business is scheduled to issue its next earnings results on Wednesday, November 6th.

According to Zacks, analysts expect that QuickLogic will report full-year earnings of ($0.12) per share for the current fiscal year, with EPS estimates ranging from ($0.12) to ($0.11). For the next financial year, analysts forecast that the company will post earnings of ($0.02) per share, with EPS estimates ranging from ($0.05) to $0.02. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that follow QuickLogic.

QuickLogic (NASDAQ:QUIK) last posted its quarterly earnings data on Wednesday, August 7th. The semiconductor company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.01). The business had revenue of $2.09 million during the quarter, compared to analyst estimates of $2.20 million. QuickLogic had a negative net margin of 120.05% and a negative return on equity of 77.17%. During the same quarter in the prior year, the firm posted ($0.04) earnings per share.

A number of research analysts have commented on QUIK shares. Roth Capital lowered shares of QuickLogic from a “buy” rating to a “neutral” rating in a research note on Wednesday, June 19th. Oppenheimer started coverage on shares of QuickLogic in a research note on Wednesday, August 14th. They issued an “outperform” rating and a $1.00 price objective on the stock. ValuEngine lowered shares of QuickLogic from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Zacks Investment Research upgraded shares of QuickLogic from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, CIBC started coverage on shares of QuickLogic in a research note on Thursday, August 15th. They issued an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $1.00.

Several institutional investors have recently modified their holdings of the company. AWM Investment Company Inc. increased its stake in shares of QuickLogic by 124.0% during the second quarter. AWM Investment Company Inc. now owns 5,419,435 shares of the semiconductor company’s stock worth $3,119,000 after acquiring an additional 3,000,000 shares during the period. Vanguard Group Inc. increased its stake in shares of QuickLogic by 10.2% during the second quarter. Vanguard Group Inc. now owns 4,167,499 shares of the semiconductor company’s stock worth $2,398,000 after acquiring an additional 385,317 shares during the period. Worth Venture Partners LLC increased its stake in shares of QuickLogic by 797.2% during the second quarter. Worth Venture Partners LLC now owns 1,131,341 shares of the semiconductor company’s stock worth $651,000 after acquiring an additional 1,005,247 shares during the period. NJ State Employees Deferred Compensation Plan increased its stake in shares of QuickLogic by 22.7% during the second quarter. NJ State Employees Deferred Compensation Plan now owns 270,000 shares of the semiconductor company’s stock worth $155,000 after acquiring an additional 50,000 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of QuickLogic by 38.4% during the second quarter. Wells Fargo & Company MN now owns 148,430 shares of the semiconductor company’s stock worth $85,000 after acquiring an additional 41,219 shares during the period. Institutional investors and hedge funds own 20.13% of the company’s stock.

NASDAQ QUIK remained flat at $$0.35 during trading on Friday. 123,942 shares of the company’s stock were exchanged, compared to its average volume of 443,363. The company has a current ratio of 1.86, a quick ratio of 1.68 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $40.71 million, a price-to-earnings ratio of -2.33 and a beta of 0.38. QuickLogic has a one year low of $0.30 and a one year high of $1.19. The business’s fifty day moving average is $0.37 and its two-hundred day moving average is $0.57.

About QuickLogic

QuickLogic Corporation, a semiconductor company, develops semiconductor platforms and intellectual property solutions for smartphones, wearable and hearable devices, tablets, and the Internet-of-Things. It also provides flexible sensor processing solutions, ultra-low power display bridges, ultra-low field programmable gate arrays (FPGAs), and programming hardware and design software solutions.

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Earnings History and Estimates for QuickLogic (NASDAQ:QUIK)

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