Stock in the Spotlight: QuickLogic Corporation (NASDAQ: QUIK)

On Thursday, Shares of QuickLogic Corporation (NASDAQ: QUIK) showed the bearish trend with a lower momentum of -0.87% and ended its trading session at $1.14. The company traded total volume of 322K shares as contrast to its average volume of 310.35K shares. The company has a market value of $105.92M and about 92.91M shares outstanding. During the 52-week trading session, the minimum price at which share price traded was registered at $1.05 and reached the max level of $2.22.

QuickLogic Corporation (QUIK), a developer of ultra-low power multi-core voice enabled SoCs, embedded FPGA (eFPGA) IP, Display Bridge and programmable logic solutions, declared its financial results for the fiscal first quarter ended April 1, 2018.

Fiscal 2018 First Quarter Financial Results:

First quarter total revenue was $2.80M, down 7% contrast to the fourth quarter of 2017, and 13% contrast to the first quarter of 2017. New product revenue was $1.30M, up 34% contrast to the fourth quarter of 2017 and down 32% contrast to the first quarter of 2017. Mature product revenue was $1.50M, down 27% contrast to the fourth quarter of 2017 and up 16% contrast to the first quarter of 2017. New product revenue accounted for 47% of the total revenue, contrast to 33% in the fourth quarter of 2017 and 60% in the first quarter of 2017. First quarter GAAP gross margin was 50.3%, flat contrast to the fourth quarter of 2017 and improved from 43.3% in the first quarter of 2017. Non-GAAP gross margin was 51.5%, flat contrast to the fourth quarter of 2017 and improved from 44.4% in the first quarter of 2017.

First quarter GAAP operating expenses increased slightly to $5.30M, from $5.00Min the fourth quarter of 2017 and $4.80M in the first quarter of 2017. Non-GAAP operating expenses were $4.90M, slightly increased from $4.60M in the fourth quarter of 2017 and $4.60M in the first quarter of 2017.

First quarter GAAP net loss increased to $4.00M, or $0.05 per share, from $3.40M, or $0.04 per share, in the fourth quarter of 2017 and $3.60M, or $0.05 per share, in the first quarter of 2017. Non-GAAP net loss was $3.50M or $0.04 per share, contrast to $3.00M, or $0.04 per share in the fourth quarter of 2017, and $3.20M, or $0.05 per share in the first quarter of 2017.

The Company offered gross profit margin of 47.20%. ROE was recorded as -89.60% while beta factor was 0.15. The stock, as of recent close, has shown the weekly downbeat performance of -2.56% which was maintained at -34.48% in this year.

Bobbie Collins

Bobbie Collins gives us an insight into the most recent news hitting the Technology Sector in Wall Street. He has been an independent financial adviser for over 10 years in the city and in recent years turned his experience in finance and passion for journalism into a full time role. He performs analysis of Companies and publicizes valuable information for shareholder community. Collins is an accomplished journalist who has a passion for travel. His desire to see the world has taken him to countries around the world and given him the opportunity to report for some of the top news organizations.

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