Roth Capital Maintains Buy On QuickLogic Shares, $4 PT
In a research report issued Monday, Roth Capital analyst Krishna Shankar maintained a Buy rating on QuickLogic (NASDAQ:QUIK) with a price target of $4.00.
Shankar observed, “We expect QUIK to report in-line 3Q14 revenue/pro-forma EPS of $4.0 million/$(0.08) on October 29 due to decline in demand for legacy tablet display bridging products at Samsung. We expect QUIK to guide positively for revenues of $5 to $6 million sequentially driven by new connectivity and sensor hub design wins for the Android smartphone, wearables, and Japan smartphone market. We view QUIK’s strategic partnerships for Android smartphones/wearables reference designs and focus on SoC development with software/algorithms as positive.”
According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst Krishna Shankar has a total average return of 7.8% and a 45.8% success rate. Shankar has a 12.1% average return when recommending QUIK, and is ranked #705 out of 3347 analysts.