QuickLogic price target lowered to $10 from $12 at Craig-Hallum

Craig-Hallum lowered the firm’s price target on QuickLogic (QUIK) to $10 from $12 and keeps a Buy rating on the shares. The firm says QuickLogic’s end to the year is rather disappointing, with essentially no growth and a lack of audible eFPGA wins. Part of this is due to a too-aggressive view on closing DIB or defense industrial base contracts, among other dynamics. However, Craig-Hallum thinks this mis-set of expectations will be solved next year, and at the same time, it also expects there to be material tailwinds to the business.