Zacks: Analysts Anticipate QuickLogic Co. (NASDAQ:QUIK) Will Post Quarterly Sales of $2.50 Million

Equities research analysts predict that QuickLogic Co. (NASDAQ:QUIK) will announce sales of $2.50 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for QuickLogic’s earnings. QuickLogic reported sales of $2.09 million in the same quarter last year, which indicates a positive year-over-year growth rate of 19.6%. The business is scheduled to issue its next quarterly earnings report on Wednesday, August 5th.

According to Zacks, analysts expect that QuickLogic will report full-year sales of $13.10 million for the current financial year, with estimates ranging from $12.70 million to $13.50 million. For the next fiscal year, analysts anticipate that the company will post sales of $23.60 million, with estimates ranging from $22.00 million to $25.20 million. Zacks’ sales averages are an average based on a survey of analysts that cover QuickLogic.

QuickLogic (NASDAQ:QUIK) last released its quarterly earnings results on Monday, May 11th. The semiconductor company reported ($0.37) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.29) by ($0.08). The firm had revenue of $2.16 million for the quarter, compared to analysts’ expectations of $2.30 million. QuickLogic had a negative net margin of 163.18% and a negative return on equity of 92.44%. During the same period in the previous year, the company posted ($0.42) earnings per share.

A number of equities analysts have issued reports on QUIK shares. Oppenheimer reduced their price target on shares of QuickLogic from $10.00 to $9.00 and set an “outperform” rating for the company in a research report on Tuesday, May 12th. Zacks Investment Research raised shares of QuickLogic from a “sell” rating to a “hold” rating in a research report on Tuesday, March 31st. ValuEngine lowered shares of QuickLogic from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 3rd. Finally, Craig Hallum dropped their price objective on shares of QuickLogic from $14.00 to $8.50 and set an “in-line” rating on the stock in a research note on Thursday, February 13th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $8.67.

QUIK traded up $0.01 during trading on Friday, reaching $5.52. 32,300 shares of the company’s stock were exchanged, compared to its average volume of 72,318. QuickLogic has a 1 year low of $2.12 and a 1 year high of $11.62. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.37 and a quick ratio of 1.20. The stock has a market capitalization of $46.25 million, a P/E ratio of -2.75 and a beta of 1.85. The company’s fifty day simple moving average is $4.29 and its 200-day simple moving average is $3.93.

Institutional investors have recently added to or reduced their stakes in the stock. Advisor Group Holdings Inc. acquired a new stake in QuickLogic in the 1st quarter valued at $39,000. Klingman & Associates LLC purchased a new position in QuickLogic in the 1st quarter valued at $294,000. Finally, Taylor Frigon Capital Management LLC lifted its holdings in QuickLogic by 18.4% in the 1st quarter. Taylor Frigon Capital Management LLC now owns 480,266 shares of the semiconductor company’s stock valued at $1,364,000 after purchasing an additional 74,507 shares in the last quarter. 24.48% of the stock is currently owned by hedge funds and other institutional investors.

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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