Roth Capital Maintains Buy On QuickLogic Following Audience’s Acquisition Of Sensor Platforms
In a research note issued this morning, Roth Capital analyst Krishna Shankar maintained a Buy rating and $3.50 price target on QuickLogic Corp (QUIK) following today’s news that Audience (ADNC) signed a definitive agreement to acquire Sensor Platforms.
The analyst noted, “We believe that ADNC’s acquisition of privately-held Sensor Platforms, Inc will not disrupt QUIK’s momentum in the smartphone/always-on wearables sensor hub market. We believe that QUIK’s catalog CSSP design wins for S1 and S2 sensor hub platform using SPI’s FreeMotion software library will continue as per the prior agreement. QUIK has designed its sensor hub platforms to be sensor, applications processor, and algorithm-agnostic and is ramping inhouse software/algorithm R&D capabilities”.
According to TipRanks, which measures analysts and bloggers success rate based on how their calls perform, analyst Krishna Shankar currently has a one-year average return of 25.6% and a 70% success rate. Shankar has a 102% average profit recommending QUIK, and he is ranked #199 out of 3128 analysts.