BWS Financial Maintains a 'Buy' on QuickLogic (QUIK); Ducks Not in a Row; Lower PT
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Price: $10.81 -4.51%
Rating Summary:
7 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
Rating Summary:
7 Buy, 1 Hold, 0 Sell
Rating Trend:
Up
Today's Overall Ratings:
Up: 6 | Down: 5 | New: 3
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BWS Financial maintains a 'Buy' on QuickLogic (NASDAQ: QUIK) price target lowered from $10 to $5.50.
BWS analyst, Hamed Khorsand, said, "QUIK delivered third quarter results riddled with positive and negative data points. The Company generated revenue of $5.34 million, of which $1.57 million came from new products. We consider the new revenue figure as the underpinning for our investment thesis."
"The timeline for new product designs is extended out into 2012 and could have further pressure on our current estimates. As a result, we are lowering our price target to $5.50. The positive attributes of the shares moving higher are present, but more of a 2012 into 2013 event than a 2011-12 event, which we had first anticipated...Buying near $2 would be highly appealing."
For more ratings news on QuickLogic click here and for the rating history of QuickLogic click here.
Shares of QuickLogic closed at $2.99 yesterday.
BWS analyst, Hamed Khorsand, said, "QUIK delivered third quarter results riddled with positive and negative data points. The Company generated revenue of $5.34 million, of which $1.57 million came from new products. We consider the new revenue figure as the underpinning for our investment thesis."
"The timeline for new product designs is extended out into 2012 and could have further pressure on our current estimates. As a result, we are lowering our price target to $5.50. The positive attributes of the shares moving higher are present, but more of a 2012 into 2013 event than a 2011-12 event, which we had first anticipated...Buying near $2 would be highly appealing."
For more ratings news on QuickLogic click here and for the rating history of QuickLogic click here.
Shares of QuickLogic closed at $2.99 yesterday.
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