Needham & Company Transfers Coverage on QuickLogic (QUIK); Await Improved Visibility Into New Product Revenue Growth

June 29, 2011 8:48 AM EDT
Get Alerts QUIK Hot Sheet
Price: $6.31 +1.12%

Rating Summary:
    5 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 6 | Down: 13 | New: 58
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Needham & Company transfers coverage on QuickLogic (NASDAQ: QUIK) with a Hold.

Needahm analyst said, "QUIK designs Customer Specific Standard Products (CSSPs); customer-specific solutions that include a combination of silicon solution platforms, Proven System Blocks (PSBs), customer-specific logic, software drivers, and firmware. With a legacy business to fund near term investment in new solutions targeting the mobile computing market, we believe QUIK has viable technology and a trajectory to return to operating breakeven by 2H12. However, we are concerned with a general lack of forward visibility in the legacy business, a declining broadband data card market and a lack of announced new product design wins. We would look for visibility into new design wins before turning more positive on shares."

For more ratings news on QuickLogic click here and for the rating history of QuickLogic click here.

Shares of QuickLogic closed at $3.11 yesterday.

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