Oppenheimer Starts QuickLogic (QUIK) at Outperform
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Oppenheimer analyst Martin Yang initiates coverage on QuickLogic (NASDAQ: QUIK) with a Outperform rating and a price target of $1.00.
The analyst commented, "We are initiating coverage of QuickLogic Corporation (QUIK) with an Outperform rating and price target of $1.00. QUIK is transforming to a key enabler of endpoint intelligence in IoT markets. We believe its well-timed transformation will benefit from secular trends in internet of things (IoT) markets. The demand for quantifiable insights on growing number and variety of endpoint devices should support long-term demand and provide a better product market fit for QUIK’s product portfolio. We believe QUIK can grow its customer base from a handful of consumer OEMs to a broader base due to its ability to democratize AI on endpoint devices with hardware and software solutions. We expect steady improvement in revenue growth, gross margin, and cash flows as QUIK navigates its transformation."
Shares of QuickLogic closed at $0.39 yesterday.
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