QuickLogic downgraded to Market Perform from Outperform at Northland

Northland downgraded QuickLogic (QUIK) to Market Perform from Outperform with an unchanged price target of $5.95 after the company reported revenue in line with guidance and noted there is a $3M contract that may or may not hit in Q4 or Q1, which is resulting in a wide range of guidance. The firm lowered its estimates and downgraded on valuation while awaiting more material progress on commercialization, the analyst tells investors.