QuickLogic initiated with an Outperform at Northland

Northland initiated coverage of QuickLogic (QUIK) with an Outperform rating and $11.60 price target QuickLogic supplies field-programmable gate array intellectual property, chiplets, and chips for the aerospace and defense industry and critical infrastructure where there is a need for radiation-hardening, extended temperature ranges, and/or a secure supply chain, notes the analyst, who believes this is “a growing niche of the FPGA market driven by Cold War 2.0 and the weaponization of outer space.”