Roth Capital Raises Price Target on Quicklogic Corp (QUIK) on Continuing Design Win Momentum

Roth Capital reiterated a Buy rating on QuickLogic (NASDAQ: QUIK), and raised the price target to $3.00 (from $2.00), on continuing positive design win momentum. Analyst Krishna Shankar believes that QUIK's recent design wins, together with existing customer Samsung are positive data-points, and that QUIK's upcoming EOS S3 sensor processing system-on-chip may win high-volume smartphone and wearables customers for performance-intensive sensor applications.

Shankar commented, "We believe that QUIK's design win momentum continues with the ArticLink S2 sensor hub and SenseMe algorithm design win for the Runtastic (Adidas) and the Jumpy (FoxConn) fitness smartwatch for kids. Other design wins include display bridging platforms for the Lenovo C1 Smart Glasses and the Lenovo Magic View Smartwatch along with existing customer Samsung. We believe that QUIK is on track to sample the EOS S3 sensor processing system-on-chip in September for smartphone (two top-tier engagements), and health/fitness applications."

For an analyst ratings summary and ratings history on QuickLogic click here. For more ratings news on QuickLogic click here.

Shares of QuickLogic closed at $1.89 yesterday.

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