QuickLogic (QUIK) closed at $8.26 in the latest trading session, marking a +0.85% move from the prior day. The stock's performance was ahead of the S&P 500's daily loss of 0.02%. Meanwhile, the Dow gained 0.38%, and the Nasdaq, a tech-heavy index, added 0.04%. The maker of chips for mobile and portable electronics manufacturers's shares have seen an increase of 13.44% over the last month, surpassing the Computer and Technology sector's gain of 4.44% and the S&P 500's gain of 3.77%. Investors will be eagerly ...

QuickLogic (QUIK) closed at $8.78 in the latest trading session, marking a -1.79% move from the prior day. This move lagged the S&P 500's daily gain of 0.61%. Elsewhere, the Dow saw an upswing of 0.97%, while the tech-heavy Nasdaq appreciated by 0.33%. Coming into today, shares of the maker of chips for mobile and portable electronics manufacturers had gained 18.88% in the past month. In that same time, the Computer and Technology sector gained 8.6%, while the S&P 500 gained 5.36%. The upcoming earnings rel ...

Achieve a 10x improvement in performance and power efficiency compared to current solutions Partnership with SensiML delivers a complete end-to-end solution for ML edge applications such as keyword spotting PALO ALTO, Calif., Oct. 08, 2024 (GLOBE NEWSWIRE) -- Efabless Corporation, the creator platform for chips, today announced the launch of chipIgnite ML, a new system-on-chip (SoC) platform. This empowers developers to create custom silicon solutions ten times more efficient than traditional off-the-shelf ...

SAN JOSE, Calif., Oct. 1, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a leading developer of embedded FPGA (eFPGA) IP and User Tools, ruggedized FPGAs, and Endpoint AI/ML solutions, today announced the successful delivery of eFPGA IP for TSMC's N12e 12nm process to a large multi-national customer, achieving delivery in record time—within three months from finalizing specifications to IP completion. This follows the announcement in March of this year, when QuickLogic secured the contract and ...

In the latest trading session, QuickLogic (QUIK) closed at $7.76, marking a -1.4% move from the previous day. The stock's performance was behind the S&P 500's daily loss of 0.13%. Elsewhere, the Dow saw an upswing of 0.33%, while the tech-heavy Nasdaq depreciated by 0.39%. The maker of chips for mobile and portable electronics manufacturers's stock has dropped by 2.48% in the past month, falling short of the Computer and Technology sector's gain of 2.7% and the S&P 500's gain of 2.43%. Market participants w ...

QuickLogic (QUIK) ended the recent trading session at $7.31, demonstrating a -1.08% swing from the preceding day's closing price. The stock fell short of the S&P 500, which registered a loss of 0.19% for the day. Elsewhere, the Dow gained 0.09%, while the tech-heavy Nasdaq lost 0.36%. The maker of chips for mobile and portable electronics manufacturers's shares have seen a decrease of 15.64% over the last month, not keeping up with the Computer and Technology sector's loss of 0.09% and the S&P 500's gain of ...

SAN JOSE, Calif., Sept. 17, 2024 /PRNewswire/ -- QuickLogic Corporation (NASDAQ: QUIK), a leader in embedded FPGA (eFPGA) Hard IP, ruggedized FPGAs and endpoint AI solutions, today announced that it will be exhibiting at GlobalFoundries' annual Technology Summit in Munich. Attendees are invited to visit Booth 19 to learn more about QuickLogic's Bespoke eFPGA IP Core, which supports multiple GF processes and can be custom-tailored for various applications. The QuickLogic eFPGA IP can be implemented on multip ...

Company Performance - QuickLogic (QUIK) shares have declined 48.4% year to date (YTD), while the Zacks Internet – Software industry has grown by 9% [1] - QUIK has underperformed compared to the Zacks Computer and Technology Sector, which returned 13.6% YTD, and the S&P 500 index, which returned 14.4% YTD [1] Growth Challenges - QuickLogic is experiencing sluggish growth due to scheduling delays, leading management to lower the revenue outlook for full-year growth projections [2] - The company’s IP contracts are currently in the deliverable phase, resulting in lower revenue realization, with expectations for contributions to the top line starting in the fourth quarter [3] Financial Position - In the second quarter, QuickLogic faced higher-than-anticipated cash usage, primarily due to payment timing related to its Strategic Radiation Hardened FPGA government contract [5] - The company's cash, cash equivalents, and restricted cash decreased to $23.3 million from $27.4 million in the previous quarter [5] Competitive Landscape - The Rad-Hard FPGA market is highly competitive, dominated by major players like Advanced Micro Devices (AMD), Microchip Technology (MCHP), and Intel (INTC), who invest heavily in optimizing their FPGA products [6][7] - AMD's Xilinx, Microchip's radiation-tolerant FPGAs, and Intel's Agilex series are direct competitors to QuickLogic's offerings, with Intel having the advantage of owning foundries [8] Investment Outlook - QuickLogic's near-term prospects are hindered by scheduling delays, lower revenue realization, and liquidity issues, leading to a Value Score of F, indicating a stretched valuation [9] - Current recommendations suggest that investors should avoid investing in QuickLogic at this time, as it holds a Zacks Rank of 4 (Sell) [9]

Revenue Performance - QuickLogic Corporation reported a revenue increase of 41.29% year-over-year to $4.13 million for Q2 2024, although it fell short of expectations by $373,000 [3][9] - The company experienced a significant revenue boost from new products, contributing $3.1 million, and mature products saw a 56% growth, reaching $1.1 million [9] - Despite the revenue growth, QuickLogic's earnings per share (EPS) of $0.05 missed expectations by $0.06, raising concerns about future profitability [3][9] Market Position and Growth Metrics - QuickLogic's stock has declined from $15.82 in 2016 to $8.16 as of August 28, 2024, with an annual return of -7.36%, contrasting with the S&P 500's 12.34% return [6] - The company has a sales funnel valued at $189 million, with over half linked to storefront deals, indicating potential future revenue growth [9] - QuickLogic's revenue growth stands out with a year-over-year increase of 66.32%, significantly higher than the sector's median of 3.26% [9] Strategic Initiatives - QuickLogic secured a Strategic Radiation Hardened FPGA government deal worth $5.26 million, with a total contract value that could reach $72 million [10] - The company is set to be the first eFPGA firm to offer Hard eFPGA IP on Intel's new 18A node, expected for mass production late next year [10] - QuickLogic anticipates strong revenue growth in 2025 and 2026, particularly from the Strategic Rad Hard program and chip developments [10] Financial Health and Valuation - QuickLogic's high blended P/E ratio of 32.34x raises concerns, especially given its earnings growth rate of only 7.89% [11] - The fair value ratio of 15.00x compared to a normal P/E of 81.53x suggests potential overvaluation of the stock [12] - The company's market cap stands at $118.04 million, placing it in the small-cap category, which typically carries higher volatility [12] Recent Challenges - QuickLogic cut its full-year growth forecast to 15% due to scheduling delays, and Q2 2024 revenue dropped 31% from Q1 2024 [13] - The gross margin fell to 53.1% in Q2 from 70.3% in Q1, attributed to lower IP revenue and increased R&D costs [13] - The company's cash balance decreased to $23.3 million at the end of Q2, down from $27.4 million at the end of Q1, indicating financial strain [13]

Financial Data and Key Metrics Changes - In Q2 2024, revenue rose 41% year-over-year to $4.1 million but decreased 31% compared to Q1 2024, primarily due to contract timing and lower Connectivity revenue [19] - Non-GAAP gross margin for Q2 was 53.1%, up from 44.2% in Q2 2023 but down from 70.3% in Q1 2024 [19] - Non-GAAP net loss was $0.7 million, or $0.05 per share, compared to a loss of $1.7 million, or $0.12 per share, in Q2 2023 [20] Business Line Data and Key Metrics Changes - New product revenue in Q2 was $3.1 million, up 37% year-over-year but down 37% from Q1 2024 [19] - Mature product revenue was $1.1 million, up 56% year-over-year and flat compared to Q1 2024 [19] Market Data and Key Metrics Changes - The company anticipates Q3 2024 revenue of approximately $4.2 million, with $3.5 million from new products and $0.7 million from mature products [22] - The total cash at the end of Q2 was $23.3 million, down from $27.4 million at the end of Q1 2024 [21] Company Strategy and Development Direction - The company aims to leverage its eFPGA Hard IP business across new customers and market sectors, with a focus on expanding its fabrication nodes [8] - The partnership with CTG is expected to enhance demand fulfillment and creation, particularly within the Defense Industrial Base [15][40] - The company is targeting to be the first eFPGA provider to offer Hard eFPGA IP on Intel's 18A node, with significant interest from customers [28] Management's Comments on Operating Environment and Future Outlook - Management has lowered the full-year growth projection to 15% due to scheduling push-outs, but expects a sharp rebound in Q4 2024 [5][22] - The company is optimistic about future revenue growth from its IP contracts and anticipates cash flow positivity for fiscal 2024 [23] Other Important Information - The company has received a $5.26 million tranche for a Strategic Radiation Hardened FPGA government contract, with a total potential value of $72 million [7] - The company is on track to report record revenue for SensiML in 2024, driven by its open-source strategy [17] Q&A Session Summary Question: Revenue push-outs and their impact - Management confirmed that approximately $3 million of revenue is being pushed into next year due to customer-related delays [28] Question: Status on Intel 18A node - Management believes they will be the first eFPGA company to offer Hard eFPGA IP on the Intel 18A node [28] Question: Storefront revenue and sales funnel - More than half of the $189 million sales funnel is related to storefront deals, with actual storefront revenue expected to be significantly higher [29] Question: Strategic Rad Hard deal and future revenues - The $72 million contract is for development, with potential storefront revenue expected to be in the hundreds of millions once the device is completed [31] Question: Consistency of push-outs - Push-outs are primarily due to funding issues and project schedule shifts, mainly in aerospace and defense sectors [35] Question: Impact of CTG partnership - The CTG partnership is expected to accelerate qualified opportunities in the sales funnel, enhancing both demand fulfillment and creation [40]